Inovio to use proceeds from $24.3M offering for development of DNA vaccine against cervical dysplasias

Inovio Pharmaceuticals, Inc., a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today the closing of the sale to a single institutional investor of 21,130,400 shares of its common stock and warrants to purchase up to 10,565,200 additional shares of its common stock.

Similarly, data presented from a head-to-head comparison of an ID and IM-delivered 8-component smallpox vaccine in a non-human primate challenge model showed that the monkeys vaccinated with ID EP mounted stronger antibody responses and protection against a virus challenge compared to those vaccinated via IM EP. Even more significant, the antibody titers produced by ID EP vaccination in the monkey model were comparable to those produced by the currently stock-piled but no longer manufactured Dryvax?„? smallpox vaccine in the same monkey model.

The first vaccine utilizing Inovio’s ID EP delivery to be tested in a human study is INO-3510, a universal H1N1 and H5N1 SynCon?„? DNA vaccine. Inovio expects to initiate a Phase I clinical study of this vaccine in 2Q 2011.

Dr. Sardesai noted, "Our R&D and engineering teams are extending the boundaries of not only DNA vaccine design but also of the electroporation delivery devices that are facilitating the best-in-class immune responses we recently reported from human studies, as well as encouraging animal efficacy results. The unique design of these minimally invasive devices demonstrates our commitment to develop increasingly optimized products to better facilitate vaccine delivery and bodes well for our vaccine development activities focused on preventive targets."

Dr. J. Joseph Kim, president and CEO of Inovio Pharmaceuticals, said, "We are pleased that the excellent results obtained with our current-generation IM delivery devices continue to hold up in clinical studies as we make improvements to better serve the end-user. The preference for less invasive vaccine delivery and our demonstration of relevant vaccine responses using less-invasive Inovio devices highlights the broader potential of our vaccine platform for both therapeutic and prophylactic vaccine targets."

SOURCE Inovio Pharmaceuticals, Inc.

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