Vical Inc executes letter of intent with AnGes MG Inc for pandemic influenza vaccines

Oct 08, 2008 (M2 EQUITYBITES via COMTEX) -- VICL | Quote | Chart | News | PowerRating -- Vical Inc (Nasdaq: VICL), a company which researches and develops biopharmaceutical products based on its patented DNA delivery technologies, reported on 7 October that the company has signed a non-binding Letter of Intent to license the development and marketing rights of the company's pandemic influenza DNA vaccines in Japan to AnGes MG Inc.

AnGes proposes to conduct due diligence on the pandemic influenza DNA vaccines. The two companies intend to negotiate terms and conditions potentially leading to a licence, subject to completion of a mutually satisfactory definitive agreement.

The Japanese Ministry of Health, Labour and Welfare has estimated that the emergence of a new strain of influenza could lead to 13 to 25 million infections and 170,000 to 640,000 deaths in Japan.

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