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BUSINESS
April 21, 1998
GenVec Inc. of Rockville said yesterday that it will work with a Japanese pharmaceutical company to develop cancer-fighting gene therapies.Under an agreement between GenVec and Fuso Pharmaceutical Industries Ltd. of Osaka, the two companies will work on research, development and commercialization of gene therapies for the treatment of cancer.The agreement gives GenVec unspecified "product development-related milestone payments" and research funding for up to five years. Fuso also has purchased an unspecified equity stake in GenVec.
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BUSINESS
By Tricia Bishop and Tricia Bishop,SUN REPORTER | March 25, 2008
The children of a 62-year-old Indiana woman are trying to pressure a Maryland biotech company into treating their mother's pancreatic cancer with an experimental drug not yet approved by the U.S. Food and Drug Administration. The three daughters of Connie Loughman held a news conference at their parents' Indianapolis home yesterday, pleading for access to the drug. They have launched a video on YouTube devoted to their mother's plight and set up a Web site asking people to e-mail executives at Gaithersburg's GenVec Inc., which is testing the promising cancer treatment.
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BUSINESS
By Joel Obermayer and Joel Obermayer,Sun Staff Writer | April 21, 1994
Rockville-based biotechnology firm GenVec announced yesterday its acquisition of a New Jersey company that would bolster its position in developing gene therapies to treat disease.GenVec Inc. said it plans to buy biotechnology research and development firm Theragen Inc. of Prince- ton, N.J., for an undisclosed sum.Both companies are working on ways to engineer viruses so they can deliver doses of medication or new genetic instructions to diseased cells.Thomas D'Alonzo, chief executive of GenVec, said the two companies use different techniques in their gene therapy products.
NEWS
By Erika Niedowski and Erika Niedowski,SUN STAFF | May 19, 2003
GAITHERSBURG - Even as the number of new cases of severe acute respiratory syndrome seems to be slowing overseas, a team of scientists here is revving up its effort to keep people from getting infected in the first place. Researchers at GenVec, a small biopharmaceutical company that normally fights enemies such as cancer and HIV, has begun the painstaking work it will take to come up with a SARS vaccine - if, that is, they can come up with one at all. Their approach is among the newest in the field of vaccine research.
BUSINESS
By Mark Guidera and Mark Guidera,Sun Staff Writer | September 13, 1995
Rockville-based GenVec, a bio-tech company, said yesterday it won a key government agency approval to clinically test a possible new therapy for the spread of colon cancer to the liver, a common complication of the late stages of the disease.GenVec's clinical trial was approved yesterday by the National Institutes of Health's Recombinant DNA Advisory Committee (RAC). All gene therapy trials in the U.S. that have NIH funding must be approved by the RAC, an NIH spokesman said.GenVec still needs approvals from the directors of the NIH and the Food and Drug Administration before it can launch the trials.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 16, 2003
GenVec Inc. will acquire a Massachusetts biotechnology firm in a stock deal that will increase its manufacturing capacity and more than double the cash it has to test and develop drugs, the Gaithersburg company announced yesterday. GenVec, a developer of gene therapies, has signed an agreement with Diacrin Inc., of Charlestown to exchange 1.5292 shares of GenVec stock for each Diacrin share. The companies valued the deal at about $40.4 million, or $2.23 per Diacrin diluted share, based on GenVec's Monday close of $1.46.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | June 5, 1996
A Rockville biotechnology company yesterday announced a deal that it hopes will lead to drugs that will complement, or in some cases replace, the role of bypass surgery in heart patients.Genvec Inc. said it had acquired worldwide rights from California-based Scios Inc. to develop genetic therapies based on Scios' vascular endothelial growth factor. Genvec said VEGF 121 is produced by a gene that signals the body to create new blood vessels. The new vessels may restore the flow of blood and oxygen to parts of the heart that are being starved because vessels that normally feed the muscle are clogged with fat.Researchers at Genvec said the goal is to learn how to use Genvec's drug delivery systems to target Scios' growth factor at the proper parts of the body, making the combination a potentially effective therapy for heart patients.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | May 7, 1996
GenVec, a Rockville biotechnology company, has launched a human clinical trial on a therapy it has developed to treat a leading cause of cancer death: colon cancer that has metastasized to the liver.This is the second clinical trial GenVec has launched in its quest to get a product approved for marketing.The company is close to wrapping up a key human trial on a gene therapy vector that it developed for cystic fibrosis.The privately held company, which is engaged in a pioneering field of medicine called gene therapy, is hoping to show in the trial at New York Hospital in New York that the therapy is safe so it can seek Food and Drug Administration approval for wider studies to show it's effective.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 19, 2002
GenVec Inc., a Gaithersburg developer of gene therapies, said yesterday that it has hired veteran biopharmaceuticals industry executive David P. Wright as its president and chief operating officer. Wright, 55, most recently was president of Baltimore's Guilford Pharmaceuticals Inc. But he made his reputation in an earlier position as executive vice president of MedImmune Inc., where he helped launch the blockbuster drug Synagis. "We wanted someone who has gone through the biotech experience and launched a biotech drug," GenVec spokeswoman Mary Sundeen said, noting that Wright knows what it's like to work with the small budgets and high stress common at companies that have yet to put a drug on the market.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | August 2, 2002
GenVec Inc. said yesterday that its second-quarter loss widened about 82 percent to $6.9 million as revenue fell and the company's drugs advanced in development, increasing costs. The Gaithersburg-based developer of gene therapies said the loss amounted to 32 cents a share. That compares with a loss of $3.8 million, or 21 cents a share, in the second quarter of last year. Revenue in the quarter was $1.6 million, down from $2 million as payments decreased after Pfizer Inc.'s previously announced decision to discontinue financial backing for one of GenVec's drugs.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 16, 2003
GenVec Inc. will acquire a Massachusetts biotechnology firm in a stock deal that will increase its manufacturing capacity and more than double the cash it has to test and develop drugs, the Gaithersburg company announced yesterday. GenVec, a developer of gene therapies, has signed an agreement with Diacrin Inc., of Charlestown to exchange 1.5292 shares of GenVec stock for each Diacrin share. The companies valued the deal at about $40.4 million, or $2.23 per Diacrin diluted share, based on GenVec's Monday close of $1.46.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 19, 2002
GenVec Inc., a Gaithersburg developer of gene therapies, said yesterday that it has hired veteran biopharmaceuticals industry executive David P. Wright as its president and chief operating officer. Wright, 55, most recently was president of Baltimore's Guilford Pharmaceuticals Inc. But he made his reputation in an earlier position as executive vice president of MedImmune Inc., where he helped launch the blockbuster drug Synagis. "We wanted someone who has gone through the biotech experience and launched a biotech drug," GenVec spokeswoman Mary Sundeen said, noting that Wright knows what it's like to work with the small budgets and high stress common at companies that have yet to put a drug on the market.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | August 2, 2002
GenVec Inc. said yesterday that its second-quarter loss widened about 82 percent to $6.9 million as revenue fell and the company's drugs advanced in development, increasing costs. The Gaithersburg-based developer of gene therapies said the loss amounted to 32 cents a share. That compares with a loss of $3.8 million, or 21 cents a share, in the second quarter of last year. Revenue in the quarter was $1.6 million, down from $2 million as payments decreased after Pfizer Inc.'s previously announced decision to discontinue financial backing for one of GenVec's drugs.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 25, 2002
GenVec Inc. said yesterday that Pfizer Inc. will discontinue financial backing for GenVec's lead product candidate, but said the decision wasn't based on results from human tests of the gene therapy. The Gaithersburg company sought to put a positive spin on the news, saying Pfizer no longer will be entitled to royalties from BioBypass. The drug is designed to treat vascular problems by promoting growth of new blood vessels. Pfizer has paid GenVec $60 million as part of the collaboration.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | November 7, 2001
A GenVec Inc. drug designed to enhance the effects of radiation therapy in cancer patients showed promise in an early-stage clinical trial, according to results presented yesterday at a scientific conference in San Francisco. Tumors injected before radiation with the gene-therapy drug TNFerade shrank in all seven patients in the trial, with tumors treated in two patients disappearing entirely, the company said. Meanwhile, "control" tumors did not shrink when treated with the same doses of radiation alone in some of the same patients.
BUSINESS
May 25, 2001
In the Region Lockheed wins FAA contract for tracking equipment Lockheed Martin Corp. will install new equipment at three U.S. air traffic control centers that closely track transoceanic flights. The Federal Aviation Administration said yesterday that the Bethesda company won the contract worth as much as $200 million. Officials say the amount of the contract, which could change, is less important than the position it will give Lockheed Martin in selling its system to other countries with oceanic responsibilities, such as Britain.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 12, 2000
GenVec Inc., forced to pull its initial public offering after the market for biotechnology stocks soured two years ago, moved yesterday to salvage its latest attempt at going public amid volatility in the biotech sector and lingering concerns over some gene therapies. The stock might go public as early as today. The Gaithersburg company, which filed Oct. 5 to offer shares at $14 to $16 each, said yesterday that the offering would be priced in the $11 to $12 range. At that price, the 4 million shares are expected to raise net proceeds of $41.6 million, down from $54.6 million.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | September 10, 1997
Rockville-based GenVec Inc. and consumer health care giant Warner-Lambert Co. said yesterday that they have struck a deal worth an estimated $100 million to jointly develop a gene therapy product to treat common cardiovascular diseases.The deal with Warner-Lambert's Parke-Davis pharmaceutical division is the first collaboration GenVec has struck with a major pharmaceutical house, and it is a sign of growing recognition among some major drug companies that gene therapy may have promising medical applications.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 13, 2000
GenVec Inc., faced with what one analyst described as a "do-or-die" situation, pushed ahead yesterday with its initial public offering despite weak demand that forced the company to settle for tens of millions of dollars less in proceeds than initially planned. The Gaithersburg developer of gene therapies grossed about $38 million from the sale of 4 million shares, but only after slashing the offering price for the second time in two days. Presuming a standard underwriting fee of 7 percent, GenVec likely will net only about $35 million - well below the $54.6 million it had targeted at first.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 12, 2000
GenVec Inc., forced to pull its initial public offering after the market for biotechnology stocks soured two years ago, moved yesterday to salvage its latest attempt at going public amid volatility in the biotech sector and lingering concerns over some gene therapies. The stock might go public as early as today. The Gaithersburg company, which filed Oct. 5 to offer shares at $14 to $16 each, said yesterday that the offering would be priced in the $11 to $12 range. At that price, the 4 million shares are expected to raise net proceeds of $41.6 million, down from $54.6 million.
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