PLYMOUTH
MEETING, Pa., Oct. 27,
2022 /PRNewswire/ -- INOVIO (NASDAQ:INO), a
biotechnology company focused on developing and commercializing DNA
medicines to help treat and prevent infectious diseases, cancer,
and diseases associated with HPV, today announced that it has
discontinued its internally funded efforts to develop INO-4800
as a COVID-19 heterologous booster vaccine. The decision follows
INOVIO's comprehensive review of its portfolio, market conditions,
and global demand for COVID-19 vaccines.
Dr. Jacqueline Shea, INOVIO's CEO
and President, stated: "We continue to believe that our DNA
medicine technology has attributes that could be beneficial to a
heterologous COVID-19 booster vaccine. However, our assessment of
the current global demand for COVID-19 vaccines, changes in
regulatory timelines and requirements, diminishing government
financial support, and the overall growing uncertainty related to
opportunities for heterologous booster vaccines have resulted in
our decision to discontinue internal funding efforts to develop
INO-4800 as a heterologous booster vaccine. As we work to bring DNA
medicines to the marketplace, we will reallocate resources and
focus our efforts on other product candidates in our pipeline, such
as INO-3107 and INO-5401, both of which recently reported
positive Phase 1/2 data for their respective targeted indications
in recurrent respiratory papillomatosis and glioblastoma. We
continue to expect to be able to report updates in the coming
months from our other ongoing trials targeting Cervical High-Grade
Squamous Intraepithelial Lesions (REVEAL 2), Ebola, Lassa fever and
MERS."
About INO-4800 and Ongoing
COVID-19 Studies
INO-4800 is a DNA medicine product candidate that has been
studied as a vaccine candidate for COVID-19. It continues to be one
of the vaccines being investigated by the World Health Organization
as part of their Solidarity Trial Vaccines, which is an
international, multi-center, multi-vaccine, adaptive, shared
placebo, event-driven, individually randomized controlled clinical
trial that aims to evaluate the efficacy and safety of promising
new COVID-19 vaccines.
INOVIO's partner in China,
Advaccine, will continue to develop INO-4800 as a COVID-19
heterologous booster vaccine with its own resources. Advaccine is
currently analyzing the data from its heterologous boost trial with
INO-4800. Any future updates on this trial will be provided by
Advaccine.
INOVIO plans to continue preclinical efforts to investigate the
potential for a pan-COVID-19 vaccine candidate based on its DNA
medicines technology. Insights gathered from prior studies with DNA
medicine product candidates, including those for INO-4800, will
help inform this development effort.
About INOVIO
INOVIO is a biotechnology company focused on developing and
commercializing DNA medicines to help treat and protect people from
infectious diseases, cancer, and diseases associated with HPV.
INOVIO's DNA medicines in development are delivered using its
investigational proprietary smart device to produce immune
responses against targeted pathogens and cancers.
For more information, visit www.inovio.com.
Contacts
Investors & Media:
Gene Kim, (267) 589-9471,
gene.kim@inovio.com
Thomas Hong, (267) 440-4298,
thomas.hong@inovio.com
Forward-Looking
Statements
This press release contains certain forward-looking statements
relating to our business, including our plans to develop and
commercialize DNA medicines and our expectations regarding our
research and development programs, including the availability and
timing of data from clinical trials. Actual events or results may
differ from the expectations set forth herein as a result of a
number of factors, including uncertainties inherent in pre-clinical
studies, clinical trials, product development programs and
commercialization activities and outcomes, the availability of
funding to support continuing research and studies in an effort to
prove safety and efficacy of electroporation technology as a
delivery mechanism or develop viable DNA medicines, our ability to
support our pipeline of DNA medicine products, the ability of our
collaborators to attain development and commercial milestones for
products we license and product sales that will enable us to
receive future payments and royalties, the adequacy of our capital
resources, the availability or potential availability of
alternative therapies or treatments for the conditions targeted by
us or collaborators, including alternatives that may be more
efficacious or cost effective than any therapy or treatment that we
and our collaborators hope to develop, issues involving product
liability, issues involving patents and whether they or licenses to
them will provide us with meaningful protection from others using
the covered technologies, whether such proprietary rights are
enforceable or defensible or infringe or allegedly infringe on
rights of others or can withstand claims of invalidity and whether
we can finance or devote other significant resources that may be
necessary to prosecute, protect or defend them, the level of
corporate expenditures, assessments of our technology by potential
corporate or other partners or collaborators, capital market
conditions, the impact of government healthcare proposals and other
factors set forth in our Annual Report on Form 10-K for the year
ended December 31, 2021, our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and other filings we make from
time to time with the Securities and Exchange Commission. There can
be no assurance that any product candidate in our pipeline will be
successfully developed, manufactured, or commercialized, that the
results of clinical trials will be supportive of regulatory
approvals required to market products, or that any of the
forward-looking information provided herein will be proven
accurate. Forward-looking statements speak only as of the date of
this release, and we undertake no obligation to update or revise
these statements, except as may be required by law.
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SOURCE INOVIO Pharmaceuticals, Inc.