CRWENewswire, Stocks to Watch. GenVec Inc - GNVC - reported that it has extended its Research Collaboration and License Agreement with Novartis. Under the extension, Novartis will fund research at GenVec through January 2013 to support its hearing loss and balance disorders program. In January 2010, GenVec entered into a worldwide licensing and collaboration agreement with Novartis to discover and develop novel treatments for hearing loss and balance disorders. According to the company, under the terms of the agreement, if certain clinical, regulatory, and sales milestones are met, GenVec is eligible to receive up to $213.6 million, including upfront and milestone payments in addition to royalties on future sales. GenVec is a biopharmaceutical company using differentiated, proprietary technologies to create superior therapeutics and vaccines.

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