Notwithstanding the merits of limitations of PEDF, I think it's important to realize the deck of cards that Genvec has dealt itself by sticking to the adenovirus platform.
Although other companies are primarily interested in design antibodies and/or drugs to inhibit a specific signaling pathway, Genvec is limited to using endogenous proteins to antagonize a specific pathway.
Therefore, they're limited to trying to overcome the stimulatory effect of VEGF (for example) by using an endogenous protein that antagonizes the VEGF pathway. They do not have the option of making a direct inhibitor as a small molecule company or mAb company would..
Although a disadvantage in areas where you need inhibitors, the platform is a relative advantage in areas where you require augmented protein activity. For example, if a downregulation of protein X is implicated, then genvec's approach is advantageous in that it can introduce protein X into the cell to increase the aggregate activity. It is relatively difficult to design small molecule activators (especially if the protein is not a cell surface receptor and/or a kinase) and it is nearly impossible to stimulate the activity of intracellular proteins through mAbs.
It's a balancing act.
With the recent focus on the AMD field, it wouldn't surprise me if Genvec looked for an AMD candidate simply as a strategic play to capitalize on future market/funding trends.
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