VGX Pharmaceuticals Announces Formation of Animal Health Company
VGX Pharmaceuticals Inc. ("VGX") announced today that it has formed a wholly owned subsidiary, VGX Animal Health, Inc. ("VGX AH"). The newly established company will include the animal health intellectual property and technology that came to VGX as a result of its acquisition of ADViSYS in February of this year. Additionally, VGX AH will have access to VGX's adaptive electroporation device, Cellectra(TM) for all animal health applications.
The VGX AH pipeline includes proprietary Growth Hormone Releasing Hormone ("GHRH") plasmid technology for major food and companion animals. The company's lead product, Life Tide SW5(TM) a GHRH porcine product, is currently in registration in Australia. Also in Phase II of development are canine GHRH products for renal failure and cancer related cachexia and anemia. VGX AH has multiple product candidates in Phase I, including indications for equine laminitis and arthritis.
VGX AH will be seeking alliance partners to help in its development and commercialization efforts in major markets throughout the world.
Dr. J. Joseph Kim, President and CEO of VGX Pharmaceuticals, commented, "The formation of VGX AH will allow us to maximize the commercial potential of this important portfolio of animal health technologies, while at the same time allowing us to maintain focus on the continued development and expansion of our core human health biopharmaceutical business opportunities."
About VGX Pharmaceuticals
VGX Pharmaceuticals is a biopharmaceutical company with small molecules and biologics product candidates for the treatment of infectious diseases, cancer and inflammatory diseases. The Company's clinical development programs include PICTOVIR(TM) for HIV infection and VGX-410C for chronic HCV infection, both of which are currently in Phase II clinical trials. In addition, Phase I clinical trials will be initiated in 2007 for VGX-150 for the treatment of Melanoma and VGX-1027 for inflammatory diseases. VGX's research pipelines include new generation of DNA vaccines and therapeutics as well as CELLECTRA(TM), a proprietary DNA delivery device. The product candidates and technology programs are protected by the Company's extensive global intellectual property portfolio. More information about VGX can be found at www.vgxp.com.