Genetronics Biomedical Corporation

Inovio Biomedical Corporation

Inovio Biomedical Corporation

April 04, 2005 00:01 ET

Genetronics Announces Name Change to Inovio Biomedical Corporation


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GENETRONICS BIOMEDICAL CORPORATION

AMEX SYMBOL: GEB

AND INOVIO BIOMEDICAL CORPORATION

AMEX SYMBOL: INO

APRIL 4, 2005 - 00:01 ET

Genetronics Announces Name Change to Inovio Biomedical
Corporation

SAN DIEGO--(CCNMatthews - Apr 4, 2005) -

Genetronics Biomedical Corporation (AMEX:GEB)(AMEX:INO), which is
developing oncology and other therapies using electroporation to deliver
drugs and nucleic acids, announced today that it has changed its
corporate name to Inovio Biomedical Corporation by filing a Certificate
of Amendment to its Certificate of Incorporation with the Secretary of
State of the State of Delaware on March 31, 2005. Effective April 4,
2005, Genetronics' American Stock Exchange ticker symbol will change
from "GEB" to "INO."

"This name change symbolizes the completion of the transformation of our
management, financial position, and commercialization strategy," said
Avtar Dhillon, MD, president and chief executive officer. "Inovio is
well positioned for growth as we progress on our clinical development
and advance toward commercialization."

Holders of stock certificates bearing the name "Genetronics Biomedical
Corporation" may continue to hold them and will not be required to
exchange them for new certificates or take any other action. The CUSIP
number for the company's common stock will change to 45773H 10 2.
Genetronics' wholly-owned subsidiary, Genetronics, Inc., intends to
change its corporate name to Inovio, Inc. in the near future.

About Inovio Biomedical Corporation

Inovio Biomedical Corporation is a late stage biomedical company focused
on building an oncology franchise based on its proprietary
electroporation therapy. The therapy targets a significant unmet
clinical need: the selective killing of cancer cells and local ablation
of solid tumors while preserving healthy tissue. The company is moving
its lead product, the MedPulser® Electroporation Therapy System,
through pre-marketing studies for head and neck cancer and skin cancers
in Europe, where it has CE Mark accreditation, a U.S. Phase III pivotal
study for recurrent head and neck cancer, and a Phase I pancreatic
cancer trial. Merck, Vical, Chiron, the U.S. Navy, and other partners
are employing Inovio's electroporation technology, which enhances local
delivery and cellular uptake of useful biopharmaceuticals, in their
development of novel DNA vaccines and gene therapies. Inovio is a leader
in electroporation, with 57 US and 125 corresponding foreign issued
patents, plus numerous pending patents in the US and abroad. More
information can be obtained at www.inovio.com.

This press release contains certain forward-looking statements relating
to Inovio's plans to develop its electroporation drug and gene delivery
technology and to maximize shareholder value. Actual events or results
may differ from Inovio's expectations as a result of a number of
factors, including the uncertainties inherent in clinical trials and
product development programs, evaluation of potential opportunities, the
level of corporate expenditures, the assessment of Inovio's technology
by potential corporate partners, capital market conditions, and other
factors set forth in the Inovio's Annual Report on Form 10-K for the
12-month period ended December 31, 2004, and other regulatory filings.
There can be no assurance that any product in the Inovio product
pipeline will be successfully developed or manufactured, or that final
results of clinical studies will be supportive of regulatory approvals
required to market licensed products.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Inovio Biomedical Corporation
    Bernie Hertel, 858-410-3101
    Investor Relations
    or
    Atkins + Associates
    Susan Neath, 858-527-3486
    Media Relations