September 10, 2009 (FinancialWire) — Vical Inc. (NASDAQ: VICL) announced the receipt from AnGes MG, Inc., of a $2.5 million installment payment for the company’s ongoing Allovectin-7(r) Phase 3 metastatic melanoma trial.

Through a series of cash payments and equity investments under a previously announced collaborative agreement, Vical has now received the full $22.6 million committed by AnGes prior to trial completion. The trial is expected to complete enrollment of the planned 375 subjects by year-end 2009.

Vijay B. Samant, Vical’s president and chief executive officer, said, “We remain on track with patient enrollment and we expect data next year. Assuming the results are positive, Allovectin-7(r) could become the first new front-line therapy for metastatic melanoma in nearly two decades.” Ei Yamada, AnGes’ president and chief executive officer, said, “We are pleased with our collaboration with Vical and the progress of this important program for the treatment of melanoma. We are hopeful that the results will support marketing approvals and successful product commercialization.”

Vical is conducting the AIMM (Allovectin-7(r) Immunotherapeutic for Metastatic Melanoma) Phase 3 pivotal trial targeting enrollment of approximately 375 patients with Stage III or IV metastatic melanoma. A patient self-screening tool for trial eligibility is available online at www.melanomaclinicaltrial.com. In exchange for funding the trial, AnGes received exclusive marketing rights in Japan and other key Asian countries, and also will receive certain royalties for sales in the United States and European countries. AnGes is obligated to pay Vical royalties on product sales in the specified Asian countries, plus certain sales-based milestone payments if defined sales levels are achieved. Vical is obligated to pay AnGes tiered royalties based on defined sales levels in the United States, and fixed royalties on rest-of-world sales. Each company will be responsible for obtaining regulatory approvals in any countries where it plans to market Allovectin-7(r).

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