Full Press Release Details
| CONTACTS : | |
| Investors: | Bernie Hertel, Inovio Biomedical, 858-410-3101 |
| Media: | Jeff Richardson, Richardson & Associates, 805-491-8313 |
Inovio Biomedical s Registration Statement in Connection with Proposed Merger with VGX Pharmaceuticals Declared Effective
2009 Inovio Biomedical Corporation (NYSE Amex: INO), a leader in enabling the
development of DNA vaccines using electroporation-based DNA delivery, announced
today that the U.S. Securities and Exchange Commission (SEC) has declared
effective Inovio s registration statement on Form S-4 related to Inovio s
pending merger transaction with VGX Pharmaceuticals Inc., a Blue Bell, Pennsylvania-based
company focused on the discovery and development of DNA vaccines. Inovio and
VGX are mailing the joint proxy statement/prospectus included in the
registration statement to their respective shareholders, including a notice of
each company s respective special meeting of stockholders to be held on May 29, 2009.
Investors and the public are
encouraged to read the relevant registration and proxy solicitation-related
documents filed with the SEC with respect to the pending transaction between
Inovio and VGX Pharmaceuticals because they contain important information about
the companies, the transaction, the securities to be issued and the
expectations for the combined company. The registration statement/proxy
statement filed on Form S-4 and other merger-related documents are
available, without charge, from the SEC s web site (www.sec.gov) or Inovio s
website, or can be obtained, free of charge, by requesting such documents,
including any items incorporated by reference, from Inovio.
About Inovio Biomedical Corporation
Inovio Biomedical is focused on developing DNA
vaccines for cancers and infectious diseases using its novel method for DNA
delivery electroporation which uses brief, controlled electrical pulses to
increase cellular uptake of useful biopharmaceuticals. Initial human data has
shown that Inovio s electroporation-based DNA delivery technology can
significantly increase gene expression and immune responses from DNA vaccines.
Immunotherapy partners include Merck, Wyeth, Tripep, Vical, University of
Southampton, Moffitt Cancer Center, the U.S. Army, National Cancer Institute,
and International Aids Vaccine Initiative. Inovio s technology is protected by
an extensive patent portfolio covering in vivo
electroporation. More information is available at www.inovio.com.
press release contains certain forward-looking statements relating to our
pending merger transaction with VGX Pharmaceuticals, Inc. and our plans to
develop our electroporation drug and gene delivery technology. Actual events or
results may differ from our expectations as a result of a number of factors,
including the uncertainties inherent in clinical trials and product development
programs, including, but not
to, the fact that pre-clinical and clinical results referenced in this release
may not be indicative of results achievable in other trials or for other
indications and that results from one study may not necessarily be reflected or
supported by the results of other similar studies. These factors also include
issues involving patents and whether they or licenses to them will provide
Inovio with meaningful protection from others using the covered technologies,
whether such proprietary rights are enforceable or defensible or infringe or
allegedly infringe on rights of others or can withstand claims of invalidity
and whether Inovio can finance or devote other significant resources that may
be necessary to prosecute, protect or defend them, assessments of our
technology by potential corporate or other partners or collaborators, issues
pertaining to Inovio s pending merger transaction including the outcome of the
stockholder approval process and other conditions to be satisfied prior to any closing of the transaction, if it
closes at all, and other factors set forth in our Annual Report on Form 10-K
for the year ended December 31, 2008 and other regulatory filings from
time to time. There can be no assurance that any product in our product
pipeline will be successfully developed or manufactured, that final results of
clinical studies will be supportive of regulatory approvals required to market
licensed products, or that any of the forward-looking information provided
herein will be proved accurate.