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Exhibit 10.28
 COMMON STOCK PURCHASE AGREEMENT
 by and between
 KINGSBRIDGE CAPITAL LIMITED
 and
 GENVEC, INC.
 dated as of March 15, 2006




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TABLE OF CONTENTS
 PageARTICLE I            DEFINITIONS
    
    
    2Section 1.01. Blackout Amount
    
    
    2Section 1.02. Blackout Shares
    
    
    2Section 1.03. Bylaws
    
    
    2Section 1.04. Certificate
    
    
    2Section 1.05. Closing Date
    
    
    2Section 1.06. Commission
    
    
    2Section 1.07. Commission Documents
    
    
    2Section 1.08. Commitment Period
    
    
    2Section 1.09. Common Stock
    
    
    2Section 1.10. Condition Satisfaction Date
    
    
    2Section 1.11. Damages
    
    
    2Section 1.12. Draw Down
    
    
    2Section 1.13. Draw Down Amount
    
    
    2Section 1.14. Draw Down Discount Price
    
    
    2Section 1.15. Draw Down Notice
    
    
    3Section 1.16. Draw Down Pricing Period
    
    
    3Section 1.17. DTC
    
    
    3Section 1.18. Effective Date
    
    
    3Section 1.19. Exchange Act
    
    
    3Section 1.20. Excluded Merger or Sale
    
    
    3Section 1.21. Knowledge
    
    
    3Section 1.22. LIBOR
    
    
    3Section 1.23. Make Whole Amount
    
    
    3Section 1.24. Market Capitalization
    
    
    3Section 1.25. Material Adverse Effect
    
    
    3Section 1.26. Maximum Commitment Amount
    
    
    3Section 1.27. Maximum Draw Down Amount
    
    
    4Section 1.28. NASD
    
    
    4Section 1.29. Permitted Transaction
    
    
    4Section 1.30. Person
    
    
    4Section 1.31. Principal Market
    
    
    4Section 1.32. Prohibited Transaction
    
    
    4
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TABLE OF CONTENTS
(Continued)
 PageSection 1.33. Prospectus
    
    
    4Section 1.34. Registrable Securities
    
    
    4Section 1.35. Registration Rights Agreement
    
    
    4Section 1.36. Registration Statement
    
    
    4Section 1.37. Regulation D
    
    
    4Section 1.38. Section 4(2)
    
    
    5Section 1.39. Securities Act
    
    
    5Section 1.41. Shares
    
    
    5Section 1.42. Trading Day
    
    
    5Section 1.43. VWAP
    
    
    5Section 1.44. Warrant
    
    
    5Section 1.45. Warrant Shares
    
    
    5ARTICLE II PURCHASE AND SALE OF COMMON STOCK
    
    
    5Section 2.01. Purchase and Sale of Stock
    
    
    5Section 2.02. Closing
    
    
    5Section 2.03. Registration Statement and Prospectus
    
    
    5Section 2.04. Warrant
    
    
    5Section 2.05. Blackout Shares
    
    
    6ARTICLE III DRAW DOWN TERMS
    
    
    6Section 3.01. Draw Down Notice
    
    
    6Section 3.02. Number of Shares
    
    
    6Section 3.03. Limitation on Draw Downs
    
    
    6Section 3.04. Trading Cushion
    
    
    6Section 3.05. Settlement
    
    
    6Section 3.06. Delivery of Shares; Payment of Draw Down Amount
    
    
    7Section 3.07. Failure to Deliver Shares
    
    
    7ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY
    
    
    8Section 4.01. Organization, Good Standing and Power
    
    
    8Section 4.02. Authorization; Enforcement
    
    
    8Section 4.03. Capitalization
    
    
    8Section 4.04. Issuance of Shares
    
    
    9Section 4.05. No Conflicts
    
    
    9Section 4.06. Commission Documents, Financial Statements
    
    
    10
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TABLE OF CONTENTS
(Continued)
 PageSection 4.07. No Material Adverse Change
    
    
    10Section 4.08. No Undisclosed Liabilities
    
    
    10Section 4.09. No Undisclosed Events or Circumstances
    
    
    11Section 4.10. Actions Pending
    
    
    11Section 4.11. Compliance with Law
    
    
    11Section 4.12. Certain Fees
    
    
    11Section 4.13. Disclosure
    
    
    11Section 4.14. Material Non-Public Information
    
    
    11Section 4.15. Exemption from Registration; Valid Issuances
    
    
    12Section 4.16. No General Solicitation or Advertising in Regard to this Transaction
    
    
    12Section 4.17. No Integrated Offering
    
    
    12Section 4.18. Acknowledgment Regarding Investors Purchase of Shares
    
    
    12ARTICLE V REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR
    
    
    12Section 5.01. Organization and Standing of the Investor
    
    
    13Section 5.02. Authorization and Power
    
    
    13Section 5.03. No Conflicts
    
    
    13Section 5.04. Financial Capability
    
    
    13Section 5.05. Information
    
    
    14Section 5.06. Selling Restrictions
    
    
    14Section 5.07. Statutory Underwriter Status
    
    
    14Section 5.08. Not an Affiliate
    
    
    14Section 5.09. Prospectus Delivery
    
    
    14ARTICLE VI COVENANTS OF THE COMPANY
    
    
    14Section 6.01. Securities
    
    
    15Section 6.02. Reservation of Common Stock
    
    
    15Section 6.03. Registration and Listing
    
    
    15Section 6.04. Registration Statement
    
    
    15Section 6.05. Compliance with Laws
    
    
    15Section 6.06. Other Financing
    
    
    15Section 6.07. Prohibited Transactions
    
    
    16Section 6.08. Corporate Existence
    
    
    16Section 6.09. Non-Disclosure of Non-Public Information
    
    
    16
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TABLE OF CONTENTS
(Continued)
 PageSection 6.10. Notice of Certain Events Affecting Registration; Suspension of Right
to Request a Draw Down
    
    
    17Section 6.11. Amendments to the Registration Statement
    
    
    17Section 6.12. Prospectus Delivery
    
    
    17ARTICLE VII CONDITIONS TO THE OBLIGATION OF THE INVESTOR TO ACCEPT A DRAW DOWN
    
    
    17Section 7.01. Accuracy of the Companys Representations and Warranties
    
    
    18Section 7.02. Performance by the Company
    
    
    18Section 7.03. Compliance with Law
    
    
    18Section 7.04. Effective Registration Statement
    
    
    18Section 7.05. No Knowledge
    
    
    18Section 7.06. No Suspension
    
    
    18Section 7.07. No Injunction
    
    
    18Section 7.08. No Proceedings or Litigation
    
    
    18Section 7.09. Sufficient Shares Registered for Resale
    
    
    18Section 7.10. Warrant
    
    
    19Section 7.11. Opinion of Counsel
    
    
    19Section 7.12. Accuracy of Investors Representation and Warranties
    
    
    19Section 7.13. No Material Adverse Change
    
    
    19Section 7.14. Payment of Fees
    
    
    19ARTICLE VIII TERMINATION
    
    
    19Section 8.01. Term
    
    
    19Section 8.02. Other Termination
    
    
    19Section 8.03. Effect of Termination
    
    
    20Section 9.01. Indemnification
    
    
    20Section 9.02. Notification of Claims for Indemnification
    
    
    21ARTICLE X MISCELLANEOUS
    
    
    23Section 10.01. Fees and Expenses
    
    
    23Section 10.02. Reporting Entity for the Common Stock
    
    
    23Section 10.03. Brokerage
    
    
    23Section 10.04. Notices
    
    
    23Section 10.05. Assignment
    
    
    24Section 10.06. Amendment; No Waiver
    
    
    25
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TABLE OF CONTENTS
(Continued)
 PageSection 10.07. Entire Agreement
    
    
    25Section 10.08. Severability
    
    
    25Section 10.09. Title and Subtitles
    
    
    25Section 10.10. Counterparts
    
    
    25Section 10.11. Choice of Law
    
    
    25Section 10.12. Specific Enforcement, Consent to Jurisdiction
    
    
    25Section 10.13. Survival
    
    
    26Section 10.15. Further Assurances
    
    
    26Section 10.16. Absence of Presumption
    
    
    26
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COMMON STOCK PURCHASE AGREEMENT
 by and between
 KINGSBRIDGE CAPITAL LIMITED
 and
 GENVEC, INC.
  Agreement Investor Company
  Section 4(2) Regulation D Securities
Act
 Registration Rights Agreement
 Warrant




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ARTICLE I
 DEFINITIONS
 Blackout Amount
 Blackout Shares
 Bylaws
 Certificate
 Closing Date
 Commission
 Commission Documents
 Commitment Period
 Common Stock
 Condition Satisfaction Date
 Damages
 Draw Down
 Draw Down Amount
 Draw Down Discount Price
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Draw Down Notice
 Draw Down Pricing Period
 DTC
 Effective Date
 Exchange Act
 Excluded Merger or Sale
 Knowledge
 LIBOR
 Make Whole Amount
 Market Capitalization
 Material Adverse Effect provided
 Maximum Commitment Amount
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Maximum Draw Down Amount
 NASD
 Permitted Transaction
 Person
 Principal Market
 Prohibited Transaction
 Prospectus
 Registrable Securities Rule 144
 Registration Rights Agreement
 Registration Statement
 Regulation D
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Section 4(2)
 Securities Act
 Settlement Date
 Shares
 Trading Day
 VWAP
 Warrant
 Warrant Shares
 ARTICLE II
 PURCHASE AND SALE OF COMMON STOCK
 Purchase and Sale of Stock
 Closing Closing Closing Date
 Registration Statement and Prospectus
 Warrant
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Blackout Shares
 ARTICLE III
 DRAW DOWN TERMS
  Draw Down Notice Draw Down Draw Down Notice Exhibit C
 Number of Shares th
 Limitation on Draw Downs
 Trading Cushion
 Settlement Settlement Date
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Delivery of Shares; Payment of Draw Down Amount
  th
 Failure to Deliver Shares Make Whole Amount provided however
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ARTICLE IV
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY
  Organization, Good Standing and Power
 Authorization; Enforcement
 Capitalization Disclosure Schedule
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Certificate Bylaws
 Issuance of Shares Certificate
 No Conflicts Certificate Certificate
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provided
 Commission Documents, Financial Statements Commission Documents GAAP
 No Material Adverse Change
 No Undisclosed Liabilities
 10




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No Undisclosed Events or Circumstances
 Actions Pending
 Compliance with Law
 Certain Fees
 Disclosure
 Material Non-Public Information
 11




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Exemption from Registration; Valid Issuances provided however
 No General Solicitation or Advertising in Regard to this Transaction
 No Integrated Offering
 Acknowledgment Regarding Investors Purchase of Shares
 ARTICLE V
 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR
  12




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Organization and Standing of the Investor
 Authorization and Power
 No Conflicts provided
 Financial Capability
 13




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Information
 Selling Restrictions
   Statutory Underwriter Status
 Not an Affiliate
 Prospectus Delivery
 ARTICLE VI
 COVENANTS OF THE COMPANY
  14




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Securities
 Reservation of Common Stock
 Registration and Listing
 Registration Statement
 Compliance with Laws
   Other Financing
  15




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Prohibited Transactions Prohibited Transaction
 Corporate Existence provided however
 Non-Disclosure of Non-Public Information
 16




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Notice of Certain Events Affecting Registration; Suspension of Right to
Request a Draw Down
 Amendments to the Registration Statement
 Prospectus Delivery
 ARTICLE VII
 CONDITIONS TO THE OBLIGATION OF THE INVESTOR TO ACCEPT A DRAW
DOWN
 Condition Satisfaction Date
 17




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Accuracy of the Companys Representations and Warranties
 Performance by the Company
 Compliance with Law
 Effective Registration Statement
 No Knowledge
 No Suspension
 No Injunction
 No Proceedings or Litigation
 Sufficient Shares Registered for Resale
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Warrant
 Opinion of Counsel
 Accuracy of Investors Representation and Warranties
 No Material Adverse Change
 Payment of Fees
 ARTICLE VIII
 TERMINATION
 Term
 Other Termination
    19




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th
 provided however Section
8.02(d) provided further
   Effect of Termination
 ARTICLE IX
 INDEMNIFICATION
 Indemnification
 Investor Indemnified Party provided however
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Company Indemnity Payment
 Company Indemnified Party provided however Investor Indemnity Payment
 Notification of Claims for Indemnification Indemnified Party Indemnifying Party
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Third Party Claim
 provided however
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provided however
 ARTICLE X
 MISCELLANEOUS
 Fees and Expenses provided however provided further
 Reporting Entity for the Common Stock
 Brokerage
 Notices
 23




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th
  
  nd
  Assignment
 24




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Amendment; No Waiver
 Entire Agreement
 Severability provided
 Title and Subtitles
 Counterparts
 Choice of Law
 Specific Enforcement, Consent to Jurisdiction
   25




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Survival
 Publicity provided
 Further Assurances
 Absence of Presumption
  26




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KINGSBRIDGE CAPITAL LIMITEDBy:
    
    /s/ Adam GurneyAdam GurneyChief Executive OfficerPalm Grove House2nd FloorRoad Town, TortolaBritish Virgin IslandsGENVEC, INC.By:
    
    /s/ Paul H. FischerPaul H. Fischer, Ph.D.President and Chief Executive Officer
 27




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Exhibit A




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Exhibit B




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Exhibit C
       
 Name:Title: