: Investors: Bernie Hertel, Inovio Biomedical, 858-410-3101 Media: Jeff Richardson, Richardson & Associates, 805-491-8313 Inovio Biomedical and VGX Pharmaceuticals Extend Completion Date for Definit

DIEGO, March 31, 2009 Inovio Biomedical Corporation (NYSE Alternext:

INO), a leader in enabling the development of DNA vaccines using

electroporation-based DNA delivery, announced today it has agreed with VGX

Pharmaceuticals, Inc. to extend the completion date of their proposed

merger from March 31 to June 30, 2009. Inovio and VGX are committed

to completion of the merger and are taking the necessary steps to complete the

registration process with the SEC. However, the closing of the transaction will

not be able to occur by March 31, 2009, due to the time required to

complete the registration process, mail the proxy statement/prospectus, provide

for required notice periods and hold the Inovio and VGX stockholder meetings.

On December 5, 2008, Inovio Biomedical

Corporation (the registrant ) and VGX Pharmaceuticals, Inc., a

privately-held Delaware corporation ( VGX ), executed an amended and restated

merger agreement (the Agreement ), which provides for the issuance of the

registrant s securities in exchange for all of the outstanding securities of

VGX and the merger of an acquisition subsidiary with VGX. On March 31, 2009, with the approval of their

respective boards of directors, Inovio and VGX executed a further amendment to

the Agreement, extending the End Date, as defined by Section 7.1(b) of

the Agreement, from March 31, 2009 to June 30, 2009 (the Amendment ).

All other terms and conditions of the Agreement remain unchanged. A copy of the

Amendment is included as an exhibit to an 8-K filed on March 31, 2009.

Investors and the public are

encouraged to read the relevant pending registration and proxy

solicitation-related documents filed with the SEC with respect to the

transaction between Inovio and VGX because they contain important information

about the companies, the transaction, the securities to be issued and the

expectations for the combined company. The pending 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 can be

obtained, free of charge, by requesting such documents, including any items

incorporated by reference, from Inovio.

About Inovio Biomedical

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. The company has entered into a definitive merger agreement

with VGX Pharmaceuticals. More information is available at www.inovio.com.

press release contains certain forward-looking statements relating to our plans

to develop our electroporation drug and gene delivery technology and our

pending merger transaction. 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 limited 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, and the

uncertainties inherent in the registration and meeting processes required to

complete the pending transaction. 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, and other factors set

forth in our Annual Report on Form 10-K for the year ended December 31,

2008 and our 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, that

the contemplated transaction will be consummated in the timeframe discussed or

at all, or that any of the forward-looking information provided herein will be