Vaccinex, Inc.

FOR IMMEDIATE RELEASE

VACCINEX RECEIVES SECOND $2 MILLION ADVANCED TECHNOLOGY AWARD FROM THE NATIONAL INSTITUTE OF STANDARDS & TECHNOLOGY

ROCHESTER, NY - Vaccinex, Inc. announced today that it has been awarded a two-year, $2.0 million grant from the Advanced Technology Program (ATP) of the National Institute of Standards and Technology (NIST). The ATP Program supports highly innovative technologies with the potential for significant economic impact. NIST announced 27 awards today in all areas of high technology. This federal funding will allow expanded applications of Vaccinex's new library-based antibody discovery technology that may lead to advances in treating cancer, inflammation and infectious diseases. This is the second time Vaccinex has received this prestigious award. The company received a first $2 million ATP award in 2000 for development of its novel technology for the identification of tumor antigens.

Maurice Zauderer, Ph.D., President and CEO of Vaccinex, stated, "We are very honored to receive this second ATP award. This is gratifying recognition of the power and versatility of the innovative Vaccinex technologies. In the post genomics era, drug development companies have made tremendous progress in identifying many promising immune targets. The current challenge is that existing antibody discovery technologies have not been successful at selecting antibodies to some of the most important pharmaceutical targets. Vaccinex's technology offers a new approach to select fully human antibodies against some of these difficult targets including complex membrane receptors that are central to many biological processes."

"This support by the Advanced Technology Program will be very important in helping us employ this innovative technology to generate therapeutic antibodies that address unmet medical needs in treatment of breast cancer and inflammatory diseases such as multiple sclerosis", remarked Ernest Smith, Chief Scientific Officer of Vaccinex.

Dr. Eric Milner, a highly regarded antibody expert, will serve as principal investigator of this ATP project. With this award Vaccinex will have received over $9 million in awarded Federal research funding.

Vaccinex is a privately held biotechnology company engaged in the discovery and development of novel therapeutic antibodies. The company's strategy is to leverage the capabilities of its proprietary antibody discovery technology to develop its own pipeline of therapeutic antibody products, while using near-term revenues from antibody collaborations to help support its operating costs. The firm was founded in 1997 in Rochester, New York and currently has over 35 employees. For additional information, please visit the company's website at www.vaccinex.com.

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	FOR IMMEDIATE RELEASE VACCINEX RECEIVES SECOND $2 MILLION ADVANCED TECHNOLOGY AWARD FROM THE NATIONAL INSTITUTE OF STANDARDS & TECHNOLOGY ROCHESTER, NY - Vaccinex, Inc. announced today that it has been awarded a two-year, $2.0 million grant from the Advanced Technology Program (ATP) of the National Institute of Standards and Technology (NIST). The ATP Program supports highly innovative technologies with the potential for significant economic impact. NIST announced 27 awards today in all areas of high technology. This federal funding will allow expanded applications of Vaccinex's new library-based antibody discovery technology that may lead to advances in treating cancer, inflammation and infectious diseases. This is the second time Vaccinex has received this prestigious award. The company received a first $2 million ATP award in 2000 for development of its novel technology for the identification of tumor antigens. Maurice Zauderer, Ph.D., President and CEO of Vaccinex, stated, "We are very honored to receive this second ATP award. This is gratifying recognition of the power and versatility of the innovative Vaccinex technologies. In the post genomics era, drug development companies have made tremendous progress in identifying many promising immune targets. The current challenge is that existing antibody discovery technologies have not been successful at selecting antibodies to some of the most important pharmaceutical targets. Vaccinex's technology offers a new approach to select fully human antibodies against some of these difficult targets including complex membrane receptors that are central to many biological processes." "This support by the Advanced Technology Program will be very important in helping us employ this innovative technology to generate therapeutic antibodies that address unmet medical needs in treatment of breast cancer and inflammatory diseases such as multiple sclerosis", remarked Ernest Smith, Chief Scientific Officer of Vaccinex. Dr. Eric Milner, a highly regarded antibody expert, will serve as principal investigator of this ATP project. With this award Vaccinex will have received over $9 million in awarded Federal research funding. Vaccinex is a privately held biotechnology company engaged in the discovery and development of novel therapeutic antibodies. The company's strategy is to leverage the capabilities of its proprietary antibody discovery technology to develop its own pipeline of therapeutic antibody products, while using near-term revenues from antibody collaborations to help support its operating costs. The firm was founded in 1997 in Rochester, New York and currently has over 35 employees. For additional information, please visit the company's website at www.vaccinex.com. Back to News Archive Copyright © 2008 Vaccinex, Inc.