Merck Exercises License Option for Additional Antigen

Inovio Biomedical announced that Merck has exercised an option for a nonexclusive license for an additional antigen to be used with Inovio's MedPulser DNA Delivery System, which is being developed for use with certain of Merck's DNA vaccine research programs.

Inovio will receive an option fee for the additional target antigen and is eligible for milestone and royalty payments if certain development goals and commercialization of the device are achieved by Merck. Merck is responsible for all development and clinical program costs.

"Inovio has been working with Merck for almost a year to develop the MedPulser for use with investigational DNA vaccines," said Inovio President and CEO Avtar Dhillon. "Merck's decision to expand the number of licensed antigens is another important step in the utilization of our MedPulser DNA Delivery System and intellectual property."