Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today announced that it was recognized with three industry awards at the World Vaccine Congress, which is being held this week in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards recognize outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry as judged by a panel of global biotech industry stakeholders.
Inovio was given accolades by its industry peers for "Best Therapeutic Vaccine," for its novel immunotherapy for cervical pre-cancers; "Best Licensing Deal," for its $400 million collaboration with Roche for Inovio's DNA-based immunotherapies for prostate cancer and hepatitis B; and, "Best Early Stage Vaccine Biotech," for its ability to raise funds and build its broad pipeline of immunotherapies and DNA vaccines.
The "Best Therapeutic Vaccine" award recognizes VGX-3100, Inovio's DNA vaccine designed to treat HPV-caused cervical dysplasia as well as cervical cancer, head and neck cancer, and anogenital cancers caused by HPV. Inovio is currently assessing the ability of VGX-3100 to treat cervical dysplasias caused by HPV infection in a global phase II trial, with results expected mid-year 2014. In previous human studies this therapeutic vaccine demonstrated that it not only drives robust immune responses to antigens from high risk types of human papillomavirus (HPV) infection but that these immune responses display a powerful killing effect against cells changed by HPV into pre-cancerous dysplasias. This desirable effect may ultimately contribute to the regression or elimination of cervical dysplasia and various cancers caused by HPV. These data have been published in the peer-reviewed journal, Science-Translational Medicine.
"The Best Vaccine Licensing Deal" recognizes industry business combinations that possess the greatest potential for success in bringing innovative medicine to the market. Last year, Inovio signed a $400 million collaborative agreement with pharma giant Roche to co-develop Inovio's therapeutic vaccines for prostate cancer (INO-5150) and hepatitis B (INO-1800). The deal provided Inovio with an upfront payment of USD $10 million. Roche is paying for all preclinical and clinical development costs. Development and commercial milestones amount to potentially $412.5 million. Additional development milestones are payable if Roche pursues other indications with INO-5150 or INO-1800. Inovio is entitled to receive up to double-digit tiered royalties on product sales.
Inovio was also selected as "The Best Early Stage Vaccine Biotech" for its pioneering work to advance its portfolio of DNA vaccines to clinical stage candidates, with notable phase II study results of its lead immunotherapy forthcoming in the months ahead. Corporately, Inovio has raised over $120 million in the capital markets in the past year and established a major collaboration with Roche.
Dr. J. Joseph Kim, President and CEO, said, "We greatly appreciate the World Vaccine Congress' recognition of Inovio's leadership and innovation in advancing a vital new generation of immune-system-stimulating therapies and vaccines."