20.02.2008 17:59:00
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Therapeutic DNA-Vaccine Company Inovio Biomedical Appoints Dr. Stephen Rietiker as a Director
Inovio
Biomedical Corporation (AMEX:INO), a
leader in enabling the development of DNA
vaccines using a proprietary electroporation-based
DNA delivery platform, announced today that its board of directors
has appointed Stephen Rietiker, MD, as the Company’s
seventh director. In addition to Dr. Rietiker, Inovio’s
board of directors now consists of James L. Heppell, chairman of the
board, Dr.
Avtar Dhillon, president and CEO, Riaz Bandali, Simon X. Benito,
Tazdin Esmail and Robert W. Rieder.
Dr. Rietiker, 51, is a seasoned chief executive with a proven track
record in both large publicly held and privately held healthcare
companies. He has held positions with Roche, Boehringer Mannheim,
Schering Plough and Covance. In 2001, Dr. Rietiker was appointed
President and CEO of Sulzer Medica AG (later Centerpulse AG). Since
2003, he has been actively involved as executive director and investor
in various start-ups. In addition, Dr. Rietiker is currently a senior
advisor to Brown Brothers Harriman & Co.’s
corporate finance team and is Chairman of AurigaVision AG. In addition,
he is a director of Prospero Minerals Corporation and Contract Farming
India AG.
"We welcome Dr. Rietiker to Inovio’s
board of directors,” said Dr. Dhillon. "Medicine
is in the midst of a paradigm shift toward using DNA-based vaccines that
may address a number of diseases that have not been controllable using conventional
prophylactic vaccines. Inovio already has 10
collaborations at this time. I therefore personally welcome Dr.
Rietiker to Inovio’s board, and look forward
to his active participation as we continue to develop a number of
important therapeutic vaccines using Inovio’s
proprietary delivery technology.” "This is certainly an
exciting time to be joining Inovio,” said
Dr. Rietiker, "as the company’s
technology is being advanced by major pharmaceutical partners and
esteemed research institutions, as well as the United States government.
We expect the new year to be a fruitful one for Inovio, and I am looking
forward to helping the company continue its progress.” About Inovio Biomedical Corporation
Inovio Biomedical (AMEX: INO) is focused on developing multiple
DNA-based immunotherapies. Inovio is a
leader in developing human applications of electroporation
using brief, controlled electrical pulses to increase cellular uptake of
a useful biopharmaceutical. Interim human data has shown that Inovio’s
DNA delivery technology can significantly increase gene expression and
immune responses from DNA vaccines. Immunotherapy partners include
Merck, Wyeth, Vical, University of Southampton, Moffitt Cancer Center,
the U.S. Army, National Cancer Institute, and International Aids Vaccine
Initiative. Inovio’s technology is protected
by an extensive patent portfolio covering in vivo
electroporation. More information is available at www.inovio.com.
This press release contains certain forward-looking statements
relating to our plans to develop our electroporation drug and gene
delivery technology. Actual events or results may differ from our
expectations as a result of a number of factors, including the
uncertainties inherent in clinical trials and product development
programs (including, but not limited to, the fact that pre-clinical
results referenced in this release may not be indicative of results
achievable from testing in humans and that results from one study may
necessarily not be reflected or supported by the results of other
similar studies), the availability of funding to support continuing
research and studies in an effort to prove safety and efficacy of Inovio’s
technology as a delivery mechanism, the availability or potential
availability of alternative therapies or treatments for the conditions
targeted by Inovio or its collaborators, including alternatives that may
be more efficacious or cost-effective than any therapy or treatment that
Inovio and its collaborators hope to develop, evaluation of potential
opportunities, issues involving patents and whether they or licenses to
them will provide Inovio 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 Inovio 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, and other factors set forth
in our Annual Report on Form 10-K for the year ended December 31, 2006,
our 10-Q for the nine months ended September 30, 2007, and other
regulatory filings. There can be no assurance that any product in our
product pipeline will be successfully developed or manufactured, or that
final results of clinical studies will be supportive of regulatory
approvals required to market licensed products.
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