Inovio subsidiary sells animal health assets

|About: Inovio Pharmaceuticals... (INO)|By:, SA News Editor

VGX Animal Health, 90% owned by Inovio Pharmaceuticals (INO), sells its animal health assets to Seoul-based Plumbine Life Sciences (PLS). Included in the sale is an exclusive license with Inovio for animal applications of its growth-releasing hormone (GHRH) technology and animal DNA vaccines and a non-exclusive license to INO electroporation delivery systems.

VGX receives $2M cash in multiple payments, a 20% stake in PLS plus milestone payments and royalties on product sales.

Inovio retains the human applications of its GHRH technology.

On another note, INO announces that its DNA-based therapeutic mAb targeting Chikungunya (CHIKV) virus completely protected mice from a lethal CHIKV challenge in a preclinical study. There is currently no vaccine or therapuetic against this mosquito-borne disease. Much work remains, though, before the product is available for human use.