Through a series of cash payments and equity investments under a previously announced collaborative agreement, Vical has received $17.6 million to date of the $22.6 million total committed by AnGes.
Vical is conducting the Allovectin-7 immunotherapeutic for metastatic melanoma (AIMM) Phase III pivotal trial targeting enrollment of approximately 375 patients with stage III or IV metastatic melanoma. The trial is expected to complete enrollment of the planned 375 subjects by year-end 2009.
In exchange for funding the trial, AnGes received exclusive marketing rights in Japan and other key Asian countries, and also will receive certain royalties for sales in the US and European countries.
Vijay Samant, president and CEO of Vical, said: We are making great progress recruiting patients as we continue to expand beyond North America to clinical sites across Western and Eastern Europe, into Israel, and recently into Turkey with the help of our commercialization partner Eczacibasi.
Including our sites in the US and Canada, we expect to have more than 100 active clinical sites in key centers worldwide as we advance toward our final months of enrollment. Based on the trends across these regions, we are confident that we will complete enrollment in this pivotal Phase III trial by the end of 2009.