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VICAL INC. COMPLETES FINANCING

 VICAL INC. COMPLETES FINANCING
 SAN DIEGO, March 2 /PRNewswire/ -- Vical Inc. announced today that


it has obtained more than $9 million in an over-subscribed private financing from a consortium of investors. The funding will be used primarily to support the company's research and development efforts in the area of Gene

Therapeutics(TM), according to Dannie H. King, Ph.D., president and chief executive officer.
 "This represents a significant vote of confidence from our financial backers on the direction we are taking the company," King said. "This funding will fuel the research and development efforts for our Gene Therapeutics technology, allowing us to move our first product into clinical trials in late 1992 or early 1993, and establish the feasibility of applying this technology to a broad range of therapeutic uses."
 Gene Therapeutics comprises the direct administration of DNA or RNA gene sequences as pharmaceutical products to treat and prevent infectious diseases, autoimmune disorders, genetic diseases, cancer and other serious conditions.
 This round of venture capital investment was led by Venrock Associates which, along with U.S. Venture Partners, Grace Horn Ventures and Sorrento Associates, is making its first investment in Vical. Continuing Vical investors participating in this round are Hillman Ventures, Morgenthaler Ventures, Sanderling Venture Partners, Security Pacific Capital and Sutter Hill Ventures.
 "We raised more equity money in this single round than was raised in the previous five-year history of the company," King said. "We are very pleased by the high quality of the firms that have come forward in support of Vical's research and development efforts.
 "With these funds in hand, we intend to rapidly expand our Gene Therapeutics activities to move our products toward clinical trials and to build upon the knowledge base we've generated in our collaboration with Merck," King added.
 In June of last year, Vical and Merck & Co. entered into a major R&D collaboration and license agreement to develop novel vaccines based on the Gene Therapeutics technology in the area of human infectious diseases.
 "We have made remarkable progress in demonstrating the ability of this approach to generate potent immune responses in animal models," King said. "These responses appear to be both qualitatively and quantitatively superior to the immunity induced by conventional antigen-based vaccines."
 Vical is also developing non-vaccine applications of Gene Therapeutics, including therapeutic protein delivery and approaches to correct genetic disorders.
 Vical Inc. was founded in 1987 and is a privately held company located in San Diego. The company's research and development efforts focus on its Gene Therapeutics technology, which broadly comprises the direct administration of DNA or RNA gene sequences as pharmaceutical products to treat and prevent infectious diseases, autoimmune disorders, genetic diseases, cancer and other serious conditions. The company also develops new therapeutics using lipid chemistry to transform a broad range of drugs into novel molecular forms that improve their efficacy, safety and convenience while creating proprietary new chemical entities.
 -0- 3/2/92
 /CONTACT: Dannie King, president and CEO, 619-453-9900, ext. 109, or Martha J. Demski, VP and CFO, 619-453-9900, ext. 111, both of Vical/ CO: Vical Inc. ST: California IN: MTC SU: FNC


DM-JL -- SD003 -- 3781 03/02/92 09:15 EST
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Date:Mar 2, 1992
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