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VBL Presents New Data on Potential of VB-111 to Stimulate the Immune System and Drive Immune Cells to Infiltrate Tumor Microenvironment

Data Presented at Society of Gynecologic Oncology (SGO) 50th Annual Meeting on Women's Cancer®

TEL AVIV, Israel, March 19, 2019 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq: VBLT), today announced the presentation of human data indicating that the viral anti-cancer investigational therapy VB-111 has potential to stimulate the immune system to induce a strong and durable response against ovarian tumors. Administration of VB-111 was associated with an infiltration of immune cells within the tumor, which was followed by tumor necrosis and sustained clinical response. VBL's study entitled “VB-111, an anti-cancer gene therapy, induces immunotherapeutic effect in platinum resistant ovarian cancer” was presented last evening at the SGO 50th Annual Meeting on Women's Cancer at the Hawaii Convention Center in Honolulu, Hawaii. The presentation was delivered by Dr. Ronnie Shapira-Frommer from Sheba Medical Center, Tel Aviv and Dr. Richard Penson from Massachusetts General Hospital, Boston.

Ofranergene obadenovec (VB-111) is a targeted anti-cancer investigational gene therapy with a dual mechanism: disruption of the tumor vasculature and induction of an anti-tumor directed immune response. In a Phase 2 clinical trial, VB-111 in combination with chemotherapy (paclitaxel) prolonged survival in patients with recurrent platinum resistant ovarian cancer (median OS 498 days for therapeutic dose VB-111 + paclitaxel combination therapy, compared to 172 days for low dose VB-111 + paclitaxel (p=0.03)). OVAL, VBL's ongoing pivotal Phase 3 trial, is designed to repeat the successful Phase 2 protocol, with the primary endpoint of improvement in overall survival. An interim analysis of the OVAL study is expected at year-end 2019.

"Cancer cells utilize various mechanisms to proliferate and survive, including silencing of, and escape from, the immune system. We believe that treatment strategies should therefore aim both to target the cancer cells and to stimulate the immune system to attack the tumor," said Dror Harats, M.D., Chief Executive Officer of VBL Therapeutics. "While we initially designed VB-111 as anti-tumor therapy targeting tumor blood supply, it is now evident that VB-111 can also drive immune cells into immunologically `cold` tumors turning the tumors ‘hot,` enabling the immune system to fight the tumor. These clinical findings provide encouraging evidence of the therapeutic potential of VB-111, as we continue to advance our clinical program in ovarian cancer and additional indications."

For a link to VBL's poster at the SGO 50th Annual Meeting on Women's Cancer refer to: SGO Poster

About Ofranergene Obadenovec (VB-111)
VB-111, a potential first-in-class anticancer therapeutic candidate, is the Company’s lead oncology product currently being studied in the OVAL potential-registration Phase 3 pivotal trial for ovarian cancer (ClinicalTrials.gov Identifier: NCT03398655). VB-111 has received orphan drug designation in both the US and Europe, and fast track designation in the US for prolongation of survival in patients with rGBM. In addition, VB-111 successfully demonstrated proof-of-concept and survival benefit in Phase 2 clinical trials in radioiodine-refractory thyroid cancer and recurrent platinum-resistant ovarian cancer (NCT01711970). VB-111 has received an Orphan Designation for the treatment of ovarian cancer from the European Commission.

About VBL

Vascular Biogenics Ltd., operating as VBL Therapeutics, is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for cancer. The Company’s lead oncology product candidate, ofranergene obadenovec (VB-111), is a first-in-class, targeted anti-cancer gene-therapy agent that is being developed to treat a wide range of solid tumors. It is conveniently administered as an IV infusion once every two months. It has been observed to be well-tolerated in >300 cancer patients and demonstrated activity signals in an “all comers” Phase 1 trial as well as in three tumor-specific Phase 2 studies. Ofranergene obadenovec is currently being studied in a potential registration trial for platinum-resistant ovarian cancer.

Forward Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding our programs, including VB-111, including their clinical development, such as the timing thereof, therapeutic potential and clinical results, and the scope and protection of our intellectual property rights. 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, the risk that historical clinical trial results may not be predictive of future trial results, and that we may not realize the expected benefits of our intellectual property protection. 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, including in our annual report on Form 20-F for the year ended December 31, 2017, and subsequent filings with the SEC. 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.

INVESTOR CONTACT:
Michael Rice
LifeSci Advisors, LLC
(646) 597-6979