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Gene therapy suffers another blow as Temusi crashes out

Date September 23, 2010

Gene therapy has suffered another disappointment. Temusi, the Vical candidate partnered with Sanofi-Aventis that aimed to regrow arteries in patients with critical limb ischaemia (CLI), failed to prevent amputation or death when compared to placebo over 12 months of follow-up in a phase III trial.

The likely loss of Temusi caused Vical's shares to fall 32% Wednesday to a 12-month low of $2.62, amid disappointment that the company's most advanced product, partnered with a major global company, has failed to live up to its promise. Vical will lose out on milestones and royalties on sales projected at $115m in 2016, making its loss a significant blow.

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