GAITHERSBURG, Md., March 23, 2015 /PRNewswire/ -- GenVec, Inc. (NASDAQ: GNVC) today announced that it has formed a collaboration with TheraBiologics to develop cancer therapeutics leveraging both GenVec's proprietary gene delivery platform and TheraBiologics' proprietary neural stem cell (NSC) technology.
In exchange for an economic participation in the products being developed under the collaboration, GenVec will contribute technology, know-how, vector construction, and technical and regulatory support to the program. TheraBiologics will be responsible for all other development costs.
The initial goal of this collaboration is to generate a next-generation product candidate to TheraBiologics' TBX02. TBX02 utilizes an established NSC line engineered to express a modified carboxylesterase enzyme that converts the prodrug CPT-11 (Irinotecan) to the potent chemotherapy agent SN-38, which is 1000x more toxic to cancer cells than CPT-11. GenVec's proprietary adenovectors will be used to provide important manufacturing and potency advantages to other adenovirus-derived vectors and will utilize well-defined production methodologies that have already produced clinical trial material for over 3,000 study patients.
"NSCs offer an unprecedented advantage of therapeutic specificity over conventional cancer treatments as a result of their inherent tumor-tropic properties," stated TheraBiologics founder and chief scientific officer, Karen S. Aboody, MD. "The NSCs selectively target invasive cancer sites resulting in tumor-localized chemotherapy production, sparing the rest of the body from toxic side effects. GenVec's technology provides us with a well-validated process for modifying these cells to reach their full therapeutic potential."
"TheraBiologics has demonstrated the promise of NSC-mediated approaches to treat cancer and we believe that GenVec's technology will greatly facilitate the development of these novel treatments," stated Douglas J. Swirsky, GenVec's president and chief executive officer. "This collaboration is in line with our goal of building a pipeline of exciting opportunities that cost-effectively leverage our technology."
About GenVec
GenVec is a clinical-stage biopharmaceutical company with an entrepreneurial focus on leveraging its proprietary adenovector gene delivery platform to develop a pipeline of cutting-edge therapeutics and vaccines. The company is a pioneer in the design, testing and manufacture of adenoviral-based product candidates that can deliver on the promise of gene-based medicine. GenVec's lead product candidate, CGF166, is licensed to Novartis and is currently in a Phase 1/2 clinical study for the treatment of hearing loss and balance disorders. In addition to our internal and partnered pipeline, we also focus on opportunities to license our proprietary technology platform, including vectors and production cell lines, for the development and manufacture of therapeutics and vaccines to the biopharmaceutical industry. Additional information about GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.
About TheraBiologics
TheraBiologics is a clinical-stage biopharmaceutical company developing human neural stem cell (NSC)-mediated cancer therapies. TheraBiologics was founded in 2011 to clinically apply the discovery by its founder, Dr. Aboody, and others that NSCs naturally migrate to cancer sites and penetrate tumors. TheraBiologics' TBX-NSC platform has been engineered to deliver a diverse range of potent anti-cancer agents selectively to invasive cancer sites in order to maximize therapeutic concentrations at the disease target and minimize off-target toxicities. The TBX-NSC platform has shown utility in the delivery of pro-drug converting enzymes, oncolytic viruses, therapeutics antibodies and nanoparticles. Additional information about TheraBiologics is available at www.therabiologics.com.
Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including with respect to GenVec's hearing loss and balance disorders program are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, such as the failure of Novartis to advance GenVec's hearing loss and balance disorders program. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.
Contact:
GenVec, Inc.
Rena Cohen
(240) 632-5501
rcohen@genvec.com
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SOURCE GenVec, Inc.
