SAN DIEGO--(BUSINESS WIRE)--Inovio Biomedical Corporation (AMEX:INO), a leader in enabling the development of DNA vaccines using electroporation-based DNA delivery, announced today it will receive a $2 million milestone payment from Merck & Co., Inc. resulting from the filing of a second Investigational New Drug application to the US Food & Drug Administration by Merck for a DNA-based vaccine using Inovio’s MedPulser® DNA Delivery System. The milestone relates to Inovio’s collaboration and license with Merck initiated in May 2004 for the development of certain DNA vaccines. Further development of the product may lead to additional milestone payments and royalties to Inovio.
