GenVec wins $22M vax development contract

GenVec is on a roll. A day after winning an orphan drug designation for its pancreatic cancer therapy TNFerade, the developer inked a $22 million development deal with Science Applications International to develop new HIV and flu vaccines. The contract is worth $22 million if all options are exercised and GenVec gets about $2.6 million over the next year. "Given the heightened concerns about influenza, this contract is timely and we look forward to applying our novel technology to the problem," says CEO Paul Fischer. "In particular we are looking forward to developing a universal flu vaccine, which has the potential to protect against seasonal and pandemic outbreaks." GenVec release