SAN DIEGO, CA, May 29, 2012 — OncoSec Medical Inc. (OTCBB:ONCS), which is developing its advanced-stage OncoSec Medical System (OMS) ElectroOncology therapies to treat solid tumors, announced today that the Company has entered into an exclusive cGMP manufacturing agreement with VGXI Inc. (VGXI) for the production of interleukin-12 plasmid DNA (DNA IL-12). Financial terms of the agreementwere not disclosed.
Punit Dhillon, President and Chief Executive Officer of OncoSec stated, “We are pleased to enter this agreement with VGXI as we look beyond our on-going Phase II trials and begin planning for pivotal trials and projected future commercialization of OMS ElectroImmunotherapy.” Mr. Dhillon continued, “VGXI was selected for its manufacturing activities based upon its ability to produce to commercial specifications and its leadership position in cGMP manufacturing of plasmid DNA for clinical use. In addition, the facility meets FDA cGMP compliance standards for manufacturing of biopharmaceutical products.”
Dorothy Peterson, Vice President, Operations at VGXI, commented, “We are delighted to be chosen by OncoSec as the manufacturing partner for DNA IL-12 and we look forward to leveraging our expertise in this plasmid DNA production to support OncoSec in further executing its clinical development strategies for OMS ElectroImmunotherapy.”
This exclusive agreement is significant for OncoSec. First, it uses VGXI’s patented DNA plasmid manufacturing process. Second, it leverages VGXI’s expertise for large-scale process development and clinical manufacturing for interleukin-12 plasmid DNA (DNA IL-12) for use in OncoSec’s OMS ElectroImmunotherapy program. OMS ElectroImmunotherapy is currently being developed for the treatment of metastatic melanoma, Merkel cell carcinoma and cutaneous T-cell lymphoma.
VGXI is a leading provider of DNA plasmid manufacturing and development services for DNA vaccine and gene therapy research. The Company has an outstanding track record of success in manufacturing plasmid products under cGMP conditions for client companies’ clinical studies in the US and Europe, and its cGMP and non-cGMP products have passed rigorous reviews by several international regulatory agencies. VGXI’s ability to work with uniquerequirements and create custom manufacturing solutions is based on its patented manufacturing process, flexible cGMP production facility, and experienced development team. The recently announced research and pre-clinical production services extend the range of high-quality, research grade materials utilizing the same efficient service. This rapid turnaround program provides consistent materials to build a reliable pre-clinical dataset. For information, visit www.vgxii.com.
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This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such “forward looking statements.” Forward looking statements are based on management’s current preliminary expectations and are subject to risks and uncertainties which may cause ourresults to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition and market conditions. These and additional risks and uncertainties are more fully described in OncoSec’s filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward looking statements which speak only as of the date they are made. OncoSec disclaims any obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.