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Merriman Curhan Ford Acted as Placement Agent in GenVec's $28 Million Registered Offering

Tuesday, February 2, 2010 General News J E 4
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SAN FRANCISCO, Feb. 1 Merriman Curhan Ford (Nasdaq: MERR) acted as a placement agent in GenVec, Inc.'s (Nasdaq: GNVC) $28 million registered offering of 14 million shares of common stock, and warrants to purchase 4.2 million shares of common stock, to certain institutional investors. The transaction closed today.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090911/MCFLOGO)

"We have been working with the Merriman team for several years and appreciate their continued efforts in advising GenVec on its financing activities," said Douglas Swirsky, Chief Financial Officer of GenVec.

The pricing of the offering was announced on January 27, 2010 by GenVec. Details on the transaction can be found at GenVec's Web site: www.genvec.com.

About GenVec

GenVec, Inc. is a biopharmaceutical company developing novel therapeutic drugs and vaccines. GenVec's lead product, TNFerade(TM), is currently in a pivotal clinical study (PACT) in locally advanced pancreatic cancer. TNFerade has also been and is currently being evaluated for its potential use in the treatment of several other cancers, including esophageal cancer, rectal cancer, and head and neck cancer. In addition, GenVec uses its proprietary adenovector technology to develop vaccines for infectious diseases including influenza, HIV, malaria, foot-and-mouth disease, respiratory syncytial virus (RSV), and HSV-2. GenVec also discovers and develops novel treatments for hearing loss and balance disorders through a worldwide collaboration with Novartis. Additional information about GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.

About Merriman Curhan Ford

Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in five growth industry sectors: CleanTech, Consumer, Media & Internet, Health Care, Natural Resources and Technology. For more information, please go to www.mcfco.com.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2009 and our Form 10-Q filed on November 16, 2009. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2009 and Form 10-Q filed on November 16, 2009, together with this press release and the financial information contained herein, is available on our website by going to www.mcfco.com and clicking on "Investor Relations."

SOURCE Merriman Curhan Ford
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