Genvec Enters Into Agreement With SAIC-Frederick

SAIC-Frederick has signed a contract with GenVec for the development of influenza and HIV vaccines in support of the Vaccine Research Center (VRC) of the National Institute of Allergy and Infectious Diseases (NIAID), a part of the National Institutes of Health (NIH).

GenVec said that this four-year contract has a total value of over $22m if all options are exercised. The company said that over the next year, GenVec will receive approximately $2.6m.

Paul Fischer, president and CEO of GenVec, said: “This new contract supports important efforts in HIV and influenza. Given the heightened concerns about influenza, this contract is timely and we look forward to applying our novel technology to this problem.

“In particular, we are looking forward to working on a universal flu vaccine, which has the potential to protect against seasonal and pandemic outbreaks.”