A new HIV vaccine is being jointly developed by Vical Pharmaceuticals and the National Institute of Health (NIH). The new HIV vaccine was developed by the scientistis in NIH and the Federal government is using the Vical Biotechs DNA delivery technology to inserting the HIV genes.
Vical Inc. is a Biotechnology company based in California, which has developed an accurate DNA delivery system, last month Vical has agreed to grant Merck to use its gene delivery system technology for cancer vaccines in exchange for rights to use the technology for vaccines against HIV. The Phase 2 clinical trial is performed by HIV vaccine trial group of NIH, this technology incorporates 4 HIV genes and the NIH trial group evaluates and compares different HIV/AIDS vaccines.
The news sent shares of Vical up $1.16, or 21.60 percent, to $6.54 in morning trade on Nasdaq, after touching high of $6.98. The stock was among the biggest percentage gainers on Nasdaq.