Inovio will acquire the rights to agreements Valentis made with IDM Pharma, Innogenetics and Pharmexa. Innogenetics and Pharmexa are currently conducting separate phase I trials of DNA vaccines using the DNAvax polymer delivery system.
The acquisition enhances Inovio’s overall gene delivery platform with the addition of complementary technology and increases the number of gene-based therapeutics under clinical evaluation from four to six.
Inovio has also acquired a number of cationic lipid and certain gene expression technologies. Valentis has also agreed to assign to Inovio rights under existing GeneSwitch license agreements with Berlex Biosciences.
Inovio paid $860,000 for the rights and technology.
Inovio expects that revenue from the GeneSwitch licenses and milestone payments from licensees of the DNAvax technology to contribute to its cash flow.