Inovio subsidiary sells animal health assets

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.

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Comments (4)
  • Nova1962
    , contributor
    Comments (10) | Send Message
    What's the matter SA? Don't you let the facts be printed????
    27 May 2014, 08:49 AM Reply Like
  • Nova1962
    , contributor
    Comments (10) | Send Message
    Why did they give it away so cheap. They even took payments on only $2M. Why wasn't a BIG pharma interested????
    27 May 2014, 08:51 AM Reply Like
  • elalpha533
    , contributor
    Comments (31) | Send Message
    Big Pharma was probably not interested because this is for Animals.
    27 May 2014, 01:59 PM Reply Like
  • LakeOtter
    , contributor
    Comments (7) | Send Message
    Well now, they are also acquiring 20% of PLS (plus milestone payments and royalties)... Such an acquisition worked out pretty well for Yahoo re Alibaba (even though the circumstances were not quite the same)
    27 May 2014, 09:49 AM Reply Like
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