Jennerex develops Pexa-Vec (JX-594/TG6006), an oncolytic immunotherapy derived from vaccinia engineered to selectively target cancer cells and express GM-CSF. Pexa-Vec can be administered intravenously and intratumorally and has been evaluated in phase 1 and 2 trials across multiple solid tumors, including advanced liver cancer. To date the product has been injected into 250 patients in North America, Asia and Europe, with reported promising data on survival, tumor response and tolerability. Jennerex develops Pexa-Vec in collaboration with Transgene, Green Cross Corporation and Lee’s Pharmaceutical; Transgene holds development and commercialization rights in 54 countries. Proceeds from a $21.6 million private placement (including a $2.5 million additional equity investment from Transgene) will be used to finance ongoing clinical studies. A first phase 3 trial for Pexa-Vec was expected to start in the first part of 2014. Jennerex is a San Francisco-based clinical-stage biotherapeutics company focused on developing and commercializing targeted oncolytic virus products for cancer. Its lead product candidate, JX-594, is a novel oncolytic agent that has shown promising antitumor activity in Phase 1 and Phase 2 clinical trials. The company completed an $8.6M financing and intends to use the proceeds to advance the late-stage clinical development of JX-594. Jennerex pursues tumor attack through three mechanisms: lysis of cancer cells via viral replication, vascular targeting to ablate tumor blood supply, and stimulation of the body’s immune response (active immunotherapy). Leadership includes David Kirn, M.D., president and CEO, and Gregory W. Schafer, senior vice president and CFO. The company also maintains related research and development operations in Ottawa, Canada and Pusan, South Korea. Jennerex is a clinical-stage biopharmaceutical company developing oncolytic virus therapeutics, principally advancing its lead candidate JX-594. The company completed an oversubscribed private placement with aggregate gross proceeds of $5,611,475 to fund clinical programs and operations. Planned uses include completion of a randomized Phase II trial in liver cancer and initiation of a pivotal Phase III trial, plus completion of a Phase I trial in solid tumors (including lung and colorectal) and initiation of a Phase II colorectal cancer trial. Proceeds will also support manufacturing, general corporate purposes and increased working capital. David H. Kirn, M.D., President and CEO, welcomed the Ottawa Regional Cancer Foundation as a new investor. Jennerex is headquartered in San Francisco with manufacturing and R&D activities at the OHRI in Ottawa, Canada.

Total raised

$17M

Funding rounds

3

Latest round

Equity

Latest activity

May 2013