Full Press Release Details
GENETICS ENTERS INTO NEW AGREEMENT WITH
INTERNATIONAL AIDS VACCINE INITIATIVE TO SUPPORT ITS
HIV/AIDS VACCINE DEVELOPMENT PROGRAM
28, 2006 - Targeted Genetics Corporation (Nasdaq: TGEN) announced today that
has entered into a collaboration and license agreement with the International
Aids Vaccine Initiative (IAVI), Columbus Children's Research Institute (CCRI) at
Columbus Children's Hospital and The Children's Hospital of Philadelphia (CHOP)
in support of the development and commercialization of HIV/AIDS vaccines.
The new agreement addresses development and commercialization issues consistent
with the significant progress made in the HIV/AIDS vaccine development program.
The new agreement supersedes a previous collaboration agreement entered into
Targeted Genetics, IAVI and CCRI in 2000, when the parties started working
together on the development of an HIV/AIDS vaccine for the developing
HIV/AIDS vaccine candidate developed under this collaboration has advanced
human clinical trials. This HIV/AIDS vaccine candidate is being evaluated
in clinical trials in Belgium, Germany, India, South Africa, Uganda and Zambia.
Data from certain of these trials is expected to be announced in the third
believe the elements of our new agreement represent an alignment of interests
all the parties and provide incentive for all parties to share common goals
related to the development and commercialization of HIV/AIDS vaccines in all
parts of the world," said H. Stewart Parker, President and Chief Executive
Officer of Targeted Genetics Corporation. "IAVI is a leader in support of the
development of HIV/AIDS vaccines for the developing world and a great partner.
To date, IAVI has substantially funded Targeted Genetics' HIV/AIDS vaccine
program efforts, significantly exceeding IAVI's
initial funding commitment made to the program in 2000.
also provided funding to CCRI, CHOP and to conduct human clinical
this new agreement, Targeted Genetics expects to continue to receive significant
funding from IAVI for the continued development of HIV/AIDS vaccines for the
developing world. Targeted Genetics also received the rights to utilize the
findings from the IAVI funded program to develop and commercialize HIV/AIDS
vaccines for both the developed world and for any additional vaccine candidates.
Among other rights granted under this agreement, IAVI retains the exclusive
rights for commercialization in the developing world of any HIV/AIDS vaccine
that is developed under the collaboration, and will receive a royalty on income
received by Targeted Genetics from the development and commercialization of
vaccines. Targeted Genetics will also issue IAVI a small number of shares of
common stock. The agreement will govern the collaboration for as long as there
is a vaccine candidate in development or commercialized as a result of the
program funded by IAVI. In addition, Philip R. Johnson, M.D., who has been
instrumental to the program since its inception in 2000, joined CHOP in 2005
from CCRI, and as a result, this new agreement now includes
the Vaccine Candidates
vaccine candidate, tgAAC09, utilizes a recombinant adeno-associated viral vector
(AAV) that was developed with and manufactured by Targeted Genetics. IAVI is
funding development, pre-clinical and clinical studies to test the vaccine.
Targeted Genetics' AAV manufacturing process utilized for this candidate is
based on a cell line which was designed by Dr. Philip R. Johnson. As part of
comprehensive development strategy, a second HIV/AIDS candidate developed in
this program is slated to go into clinical development. This candidate contains
a different AAV serotype than is utilized in tgAAC09. Preclinical studies of
this AAV serotype have demonstrated an ability to elicit an immune response
the International AIDS Vaccine Initiative
global not-for-profit organization working to accelerate the development of
vaccine to prevent HIV infection and AIDS. Founded in 1996 and operational
countries, IAVI and its network of collaborators research and develop vaccine
candidates. IAVI also advocates for a vaccine to be a global priority and works
to ensure that a future vaccine will be accessible to all who need it.
IAVI's financial and in-kind supporters include the Bill & Melinda Gates
Foundation, the New York Community Trust, the Rockefeller Foundation, the Starr
Foundation, the Governments of the Basque Country, Canada, Denmark, the European
Union, Ireland, the Netherlands, Norway, Sweden, the United Kingdom, and the
United States; multilateral organizations such as the World Bank; corporate
donors including BD (Becton, Dickinson & Co.), Continental Airlines, DHL and
Pfizer; leading AIDS charities such as Broadway Cares/Equity Fights AIDS,
Crusaid, Deutsche AIDS-Stiftung, and the Until There's A Cure Foundation; other
private donors such as the Haas Charitable Trusts; and many generous individuals
from around the world. For more information, see www.iavi.org.
Columbus Children's Research Institute
Children's Hospital is a 114-year-old pediatric healthcare network which houses
the Department of Pediatrics of The Ohio State University College of Medicine.
Columbus Children's Research Institute (CCRI) at Columbus
Children's Hospital ranks among the top 10 in National Institutes of
Health research awards to freestanding children's hospitals in
the United States. CCRI has nearly 300,000 square feet of dedicated
research space and is organized into 11 research Centers of Emphasis
encompassing gene therapy; molecular and human genetics; vaccines and immunity;
childhood cancer; cell and vascular biology; developmental pharmacology and
toxicology; injury research and policy; microbial pathogenesis; cardiovascular
medicine; innovation in pediatric practice and biobehavioral
health. More information is available by calling (614) 722-KIDS or
through www.columbuschildrens.com.
The Children's Hospital of Philadelphia
Children's Hospital of Philadelphia (CHOP) was founded in 1855 as the nation's
first pediatric hospital. Through its long-standing commitment to providing
exceptional patient care, training new generations of pediatric healthcare
professionals and pioneering major research initiatives, CHOP has fostered
discoveries that have benefited children worldwide. Its pediatric research
program is among the largest in the country, ranking second in National
Institutes of Health funding. In addition, its unique family-centered care
public service programs have brought the 430-bed hospital recognition as a
leading advocate for children and adolescents. For more information, visit
Genetics Corporation is a biotechnology company committed to the development
commercialization of innovative, targeted molecular therapies for the prevention
and treatment of inflammatory arthritis, HIV/AIDS and other acquired and
inherited diseases with significant unmet medical need. Targeted Genetics uses
its considerable knowledge and capabilities in the development and manufacturing
of gene delivery technologies to advance a diverse product development pipeline.
Its product development efforts target inflammatory arthritis, HIV/AIDS,