May. 27, 2014, 6:58 AM
- 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.
INO vs. ETF Alternatives
Inovio Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company develops active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat cancers and infectious diseases.
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