April 30, 1998 - GenVec, Inc. today announced that it has licensed rights for all gene therapy applications of the tumor necrosis factor alpha (TNF) gene in the United States from Asahi Chemical Industry Co., Ltd. of Tokyo, Japan. Details of the transaction were not disclosed.
TNF is a naturally occurring secreted protein with clinical antitumor activity. Preclinical studies have shown that TNF delivered by gene therapy and used in combination with radiation treatment, disrupts the tumor's blood vessels resulting in rapid necrosis of the tumor. Each year, more than 400,000 cancer patients receive radiation therapy in the U.S.
"GenVec will pursue the development of TNF gene-based pharmaceuticals for use in combination with radiation therapy," stated Paul H. Fischer, GenVec's President and Chief Executive Officer. "We intend to use our proprietary gene expression technology to achieve high concentrations of the TNF protein in the tumor without causing systemic side effects."
Dr. Fischer noted that the initial clinical studies will be conducted in collaboration with Varian Associates, Inc. (Varian), a leading manufacturer of medical linear accelerators and related radiotherapy products for the treatment of cancer. In March 1998, GenVec entered into a collaborative agreement with Varian for the conduct of preclinical and clinical research of specific products and technology, with the goal of developing novel, improved therapies based on the combined use of precisely delivered radiation energy and gene-based pharmaceuticals. Under the agreement, GenVec and Varian each retain the right to develop and commercialize their respective products and technologies independently or with third parties.
GenVec is a privately held biotechnology company focused on the development and commercialization of innovative gene-based therapies. The Company combines its core technologies with proprietary, therapeutic genes to create product opportunities addressing major medical needs. GenVec's therapeutic programs are in the areas of cardiovascular disease, including the treatment of ischemia and restenosis, cancer, and neurological disorders.
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