Summary of INOVIO BIOMEDICAL CORP

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Pursuant to paragraph (a)(4) of Item 9.01 of Form 8-K, the attached financial statements were omitted from disclosure contained in the Initial 8-K. Attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and incorporated herein by reference, are (i) the audited consolidated financial statements of VGX as of and for the years ended December 31, 2008 and 2007 and the period from December 12, 2000 (inception) through December 31, 2008, and (ii) the unaudited consolidated financial statements of VGX as of and for the quarter ended March 31, 2009.

(b) Pro Forma Financial Information.

The pro forma financial information required by this item with respect to the Merger will be filed as soon as practicable, and in any event not later than 71 days after the date on which the Initial 8-K was required to be filed.

(d) Exhibits.

99.1   Audited Consolidated Financial Statements of VGX as of and for the years
       ended December 31, 2008 and 2007 and the period from December 12, 2000
       (inception) through December 31, 2008 (incorporated by reference to the
       Audited Consolidated Financial Statements of VGX as of and for the years
       ended December 31, 2008 and 2007 and the period from December 12, 2000
       (inception) through December 31, 2008 included in the Joint Proxy
       Statement/Prospectus filed by Inovio with the Securities and Exchange
       Commission pursuant to Rule 424(b) under the Securities Act of 1933, as
       amended, on May 1, 2009, relating to Inovio's Registration Statement on
       Form S-4, as amended (Registration No. 333-156035).
99.2   Unaudited Consolidated Financial Statements of VGX Pharmaceuticals, Inc.
       as of and for the quarter ended March 31, 2009.