All acquired assets of ADViSYS, including its significant pipeline for DNA delivered therapeutics as well as DNA delivery and cGMP manufacturing capabilities will be added to VGX Pharmaceuticals' newly created Immune Therapeutics division. VGX Immune Therapeutics will focus on developing and commercializing DNA-based vaccines and therapeutics for the areas of infectious diseases and cancer.
VGX Pharmaceuticals will add ADViSYS' electrokinetic gene delivery (EKD) devices and other proprietary technologies for DNA-based therapeutics.
“The acquisition of ADViSYS' strategic assets and expertise allows us unprecedented vertical control over the development of DNA-based therapies. As a result of this merger, VGX Pharmaceuticals will more than double the number of employees as well as synergistically enhance the combined product pipeline. The critical mass gained from this acquisition brings us one step closer to achieving our overall goal of becoming a publicly traded global biopharmaceutical company,” said Dr Joseph Kim, president and CEO of VGX Pharmaceuticals.
This transaction marks the second major step in VGX Pharmaceuticals' global strategy for growth. In November 2005, VGX Pharmaceuticals acquired a controlling interest of a publicly traded pharmaceutical company subsequently renamed as VGX International to expand its overseas R&D, manufacturing and marketing capabilities.