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VaxGen Files Notice of Appeal Regarding Cancelled Anthrax Contract

SOUTH SAN FRANCISCO, Calif., March 14, 2007 /PRNewswire-FirstCall/ -- VaxGen Inc. (VXGN.PK) announced today that it has filed a notice of appeal at the Civilian Board of Contract Appeals regarding the U.S. government's termination for default of the company's anthrax vaccine stockpile contract. The filing, in anticipation of the approaching appeal deadline of March 19, preserves VaxGen's right to challenge the default termination while the company continues to discuss with the Department of Health and Human Services (HHS) a possible settlement of the contract termination and related issues as an alternative to the pending litigation.

About VaxGen

VaxGen, Inc. is a biopharmaceutical company engaged in the development, manufacture and commercialization of biologic products for the prevention and treatment of human infectious diseases.

Posted: March 2007