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VGX International signs a Master Product Sale Agreement with BioCancell Therapeutics of Israel to supply plasmid for its multiple clinical programs
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| THE WOODLANDS, TX – October 24, 2008 – |
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VGXI, Inc. today announced the execution of a Master Product Sale Agreement to supply plasmid between its parent company, VGX International, and BioCancell Therapeutics. BioCancell is a biopharmaceuticals corporation specializing in the development of Patient-Oriented, Targeted Therapy for the treatment of numerous types of cancer. Products under the Agreement will be manufactured at the VGXI, Inc production facility in The Woodlands, TX.
Henry Hebel, Chief Operating Officer of VGXI said, “We are pleased to have a partner with such an impressive platform technology. BioCancell has a track record of generating clinical results. We look forward to the possibility of supporting multiple clinical indications of this critical work.”
Avi Barak, CEO of BioCancell Therapeutics, added, "A company developing revolutionary drugs for various types of cancer relies on its manufacturers for product quality, which is a function of the technologies and advanced services they offer. It is for this reason that we chose to work with VGXI as we move on to plan clinical trials for additional cancer types, requiring the highest manufacturing standards."
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About BioCancell
BioCancell Therapeutics Inc. is a biotechnology company specializing in the development of Patient-Oriented, Targeted Therapy for the treatment of a wide range of cancers. Its therapeutic and diagnostic technology constitutes a novel ‘search and destroy’ paradigm for the targeted destruction of cancer cells – with no effect on surrounding tissue and no observed side effects – for long-term, safe treatment and prevention of cancer.
BioCancell was co-founded in 2004 by Professor Avraham Hochberg, Professor of Molecular Biology at the Hebrew University of Jerusalem, based on technology he has developed over the past 15 years. Between 2006-2008, BioCancell has successfully completed private rounds of funding and an initial public offering totaling $12.5 million. Its securities are traded on the Tel Aviv Stock Exchange, with the major stockholders being Cal Biotechnology Industries, a member of the IDB group of companies, and Prof. Hochberg. For more information, please visit www.biocancell.com.
About VGXI Inc.
VGXI Inc. is a leading manufacturer of DNA plasmids, and its cGMP and
non-cGMP products have passed rigorous reviews by several international
regulatory agencies. VGXI offers a wide variety of contract manufacturing
services to outside client organizations. The Company’s cGMP manufacturing
facility in The Woodlands, Texas is a flexible, purpose-built facility
used for research, development, and clinical supply. The site includes
500-liter and 100-liter fermentors and incorporates a cost-effective process.
VGX International also has initiated a project to build and operate a
3000-liter scale cGMP, DNA plasmid manufacturing facility in Asia.
Company Contact:
Henry Hebel
Vice President, Manufacturing and Operations
Tel. 281.296.7300
Fax 281.296.7333
E-mail: hhebel@vgxii.com
www.vgxii.com
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