Online Auction for GenVec, Inc. Hosted by Surplus Solutions LLC and The Branford Group

  Online Auction for GenVec, Inc. Hosted by Surplus Solutions LLC and The
  Branford Group

Business Wire

GAITHERSBURG, Md. -- October 23, 2013

Surplus Solutions LLC along with The Branford Group have been selected by
GenVec, Inc. to conduct a substantial 3-day global online auction of
laboratory equipment at the 42,900 sq. ft. biopharmaceutical facility in
Gaithersburg, MD facility.

The auction contains over 1,500 lots available for sale, including Agilent and
Waters HPLC Systems, Bio Reactors, Microscopes, Chromatography Columns,
Centrifuges, Lab Furniture and much more. All bidding will be conducted online
beginning November 12 at 9:00am (EST). Bidders can pre-register for the
auction and view the entire auction details including inspection times, terms,
and a complete catalog of available equipment at either www.ssllc.com or
www.TheBranfordGroup.com.

GenVec is a biopharmaceutical company working with leading companies and
organizations such as Novartis and the U.S. Government to leverage its
proprietary gene-delivery technologies to address the prevention and treatment
of significant health concerns.

“Within the next few months, GenVec will be relocating to substantially
smaller space in the area consistent with our transition from a
capital-intensive, product development company to one focused on the cost
efficient creation of value through the licensing of our proprietary vector
and cell line technologies,” said Douglas J. Swirsky, GenVec’s President and
Chief Executive Officer. “The Branford Group and Surplus Solutions are
uniquely positioned in the market to help us realize the most value from the
sale of our surplus equipment.”

Surplus Solutions, LLC is a certified equipment appraiser and recognized
leader in the laboratory and biotech industries. The Branford Group is a
global industrial auction and valuation business with proficiency across a
wide array ofindustries. Both companies offer proficiency and expertise to
match buyers and sellers around the world.

Statements herein relating to future financial or business performance,
conditions or strategies and other financial and business matters, including
with respect to the transition of GenVec's business focus and the potential
proceeds from the sale of surplus equipment, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act. GenVec
cautions that these forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which change over time. Factors that may
cause actual results to differ materially from the results discussed in the
forward-looking statements or historical experience include risks and
uncertainties, such as the failure of Novartis to advance GenVec's hearing
loss program, including into human clinical trials. Further information on the
factors and risks that could affect GenVec's business, financial conditions
and results of operations, are contained in GenVec's filings with the U.S.
Securities and Exchange Commission (SEC), which are available at www.sec.gov.
These forward-looking statements speak only as of the date of this press
release, and GenVec assumes no duty to update forward-looking statements.

RELATED LINKS
http://www.genvec.com
http://www.ssllc.com
http://www.thebranfordgroup.com

Contact:

Surplus Solutions, LLC:
Ryan McAuliffe, 508-646-2744
ryan@ssllc.com
or
The Branford Group:
James Gardner, 203-488-7020
service@thebranfordgroup.com
or
GenVec, Inc.:
Rena Cohen, 240-632-5501
rcohen@genvec.com
 
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