Exhibit 99.1

		10390 Pacific Center Court, San Diego, CA 92121-4340   858•646•1100, FAX: 858•646•1150   www.vical.com		News Release

FOR IMMEDIATE RELEASE

October 16, 2006

Vical to Raise $12.5 Million in Registered Direct Offering

SAN DIEGO—October 16, 2006—Vical Incorporated (Nasdaq:VICL) today announced that it has obtained commitments to purchase approximately $12.5 million of its common stock in a registered direct offering. Under the terms of the transaction, Vical expects to sell approximately 2.5 million shares pursuant to an effective shelf registration statement at a price of $5.02 per share, the Nasdaq closing bid price on October 13, 2006, with no discounts or commissions. The closing of the offering is expected to take place on October 16, 2006. Proceeds from the transaction will be used in the further development of Vical’s ongoing programs, as well as for other general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares of common stock may only be offered by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus can be obtained from the Corporate Secretary, Vical Incorporated, 10390 Pacific Center Court, San Diego, CA 92121-4340.

About Vical

Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the

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company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. Additional information on Vical is available at www.vical.com.

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected, including: whether the offering will close as expected on October 16, 2006, if at all; whether any product candidates will be shown to be safe and efficacious in clinical trials; the timing of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; the dependence of the company on its collaborative partners; and additional risks set forth in the company’s filings with the Securities and Exchange Commission. These forward-looking statements represent the company’s judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

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