HALIFAX, NOVA SCOTIA--(Marketwire - May 10, 2012) - Immunovaccine Inc. (TSX VENTURE:IMV), a clinical stage vaccine development company focused on advancing its patented DepoVax™ vaccine adjuvanting platform and product candidates, today announced that it has entered into a research collaboration with one of the world's leading animal health companies to develop next generation companion animal vaccines. Under terms of the collaboration, Immunovaccine will combine multiple vaccine candidates provided by its research partner with the company's proprietary DepoVax adjuvanting vaccine technology. The resulting vaccine products, which are expected to deliver long-lasting, single-dose protection against several of the most common infectious diseases effecting dogs and cats, will then be advanced through veterinary studies in several indications by Immunovaccine's research partner.
DepoVax is a vaccine adjuvanting platform that has been demonstrated to work effectively with a broad range of antigens. Once administered, vaccine products that feature the technology create a unique depot effect that attracts antigen-presenting cells to generate a rapid and robust immune response. As a result, the next generation vaccine candidates developed through this new collaboration have the potential to drive a new standard of care in the vaccination of pets including dogs and cats, offering the necessary protection in just a single dose.
"This partnership is the latest development to highlight the significant promise our DepoVax technology holds for delivering more rapid, stronger and longer-lasting vaccines," said John Trizzino, chief executive officer of Immunovaccine. "This extension of our animal health partnering strategy also supports the advancement of our work in human health by providing additional data regarding the immune system response to a broader range of infectious disease agents."
In addition to animal health, Immunovaccine is also developing human health vaccines for cancer therapy and infectious disease using the DepoVax technology platform. The company has two therapeutic cancer vaccines in clinical development; DPX-Survivac for ovarian cancer and DPX-0907 for breast, ovarian, and prostate cancer, and has advanced several candidates in infectious disease and biodefense through the National Institutes of Health and other partnerships.
Today's agreement represents an expansion of Immunovaccine's partnerships in animal health. The company's additional partnerships in the area of animal health include its ongoing collaboration with Pfizer Animal Health, which is focused on leveraging the DepoVax technology to create advanced vaccines against infectious diseases for multiple livestock indications.
There are currently more than 72 million pet dogs and 82 million pet cats in U.S. households, according to the American Veterinary Medical Association. There is a growing global demand for premium companion animal vaccines that can be safely and easily administered. According to a Global Industry Analysts report, the veterinary vaccine market is projected to reach US$ 5.6 Billion by 2015. Growth in this market is driven by an increasing number of pet owners demanding products that enhance the health and well-being of their pets.
In additional corporate news, Immunovaccine has retained Vida Communication to provide strategic public relations and investor relations services, effective May 9, 2012. Under the terms of the agreement, Immunovaccine will pay Vida Communication a monthly fee of $10,000 for select strategic communication services. The initial contract term is 12 months and commences immediately. Neither Vida Communication nor any of its principals have an ownership interest, directly or indirectly, in Immunovaccine or its securities, nor has the company granted Vida Communication or its principals any rights to acquire any such interests.
Immunovaccine Inc. develops vaccines formulated in its vaccine delivery platform for cancer therapy and infectious disease. The company's DepoVax™ platform is a patented lipid delivery system that presents antigens plus adjuvant to the immune system for a prolonged period and has the potential to enhance immune responses. Immunovaccine has taken its platform technology and proprietary cancer vaccine into Phase I human trials and has demonstrated its safety and immunogenicity potential. The company is also capitalizing on the broad potential of its delivery platform by creating new DepoVax-based vaccines through multiple development collaborations. In addition to the Company's human health vaccine strategy, it continues to capture value from animal health vaccine applications. Pfizer Animal Health has licensed the company's delivery technology platform to develop vaccines for livestock. Connect at www.imvaccine.com or www.twitter.com/immunovaccine.
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release.
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