VBL Therapeutics Receives European Patent Issuance on Lecinoxoid Platform Technology

TEL AVIV, Israel, Feb. 6, 2015 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq:VBLT), a clinical-stage biotechnology company committed to the discovery, development and commercialization of first-in-class treatments for cancer and immune-inflammatory diseases, today announced the issuance by the European Patent Office (EPO) of Patent No. 2348866, entitled "Oxidized Lipid Compounds and Uses Thereof" and covering the compound, pharmaceutical composition, and use of the Company's second generation oral Lecinoxoids. VBL is currently applying its Lecinoxoid technology to anti-inflammatory indications, including psoriasis and ulcerative colitis. This patent provides intellectual property rights in validated European countries through 2029.

"This granted patent is an important addition to VBL's Lecinoxoids intellectual property portfolio, which now includes more than 70 issued patents and pending patent applications worldwide," said Dror Harats, M.D., Chief Executive Officer of VBL Therapeutics. "VBL is committed to continuing to expand and strengthen our pipeline through multiple layers of intellectual property protection. We look forward to leveraging our second-generation molecules to additional immune-inflammatory indications in broad patient populations."

VBL recently completed two Phase 2 studies evaluating the efficacy of lead Lecinoxoid compound, VB-201, for the treatment of psoriasis and ulcerative colitis. Top line results from both studies are expected in the first quarter of 2015.

About the Lecinoxoid Platform:

VBL's proprietary Lecinoxoid platform technology comprises a family of orally administered small molecules designed to modulate the body's inflammatory response. Lecinoxoids are compounds that are structurally and functionally similar to naturally occurring molecules, known as oxidized phospholipids, which possess immune modulating anti-inflammatory properties, modified to enhance stability and activity. The Lecinoxoid platform technology seeks to harness the ability of oxidized phospholipids to regulate and attenuate key immune-inflammatory signaling.

Lecinoxoids have the potential to act on two specific mechanisms: the inhibition of cellular signaling cascades associated with the innate immune system, known as toll-like receptor signaling, and the inhibition of the migration of monocytes toward chemoattractants present in areas of inflammation.

About VBL:

Vascular Biogenics Ltd., operating as VBL Therapeutics, is a clinical-stage biopharmaceutical company committed to the discovery, development and commercialization of first-in-class treatments for cancer and immune-inflammatory diseases. VBL Therapeutics' clinical pipeline is based on two distinct, proprietary platform technologies—an oncology program and an anti-inflammatory program—that leverage the body's natural physiologic and genetic regulatory elements. The Company's lead oncology product candidate, VB-111, is a gene-based biologic that is initially being developed for recurrent glioblastoma, or rGBM, an aggressive form of brain cancer. VB-111 has received orphan drug designation in both the United States and Europe and was granted Fast Track designation by the FDA for prolongation of survival in patients with glioblastoma that has recurred following treatment with standard chemotherapy and radiation. VBL Therapeutics expects to begin the pivotal Phase 3 trial for VB-111 in rGBM in the first half of 2015, under a special protocol assessment agreement granted by the FDA. VBL Therapeutics' lead product candidate from its anti-inflammatory program, VB-201, is an oral small molecule which recently completed Phase 2 clinical trials for psoriasis and for ulcerative colitis, with top-line results expected in the first quarter of 2015.

Forward Looking Statements:

This press release contains forward-looking statements. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, and the risk that historical clinical trial results may not be predictive of future trial results. A further list and description of these risks, uncertainties and other risks can be found in the Company's regulatory filings with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. VBL Therapeutics undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.

CONTACT: Hannah Deresiewicz Stern Investor Relations, Inc. 212-362-1200, hannahd@sternir.comSource: VBL Therapeutics

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