Jennerex completes $8.6 million financing round
Monday, August 15, 2011
Jennerex, a private clinical-stage biotherapeutics company, has completed a successful private placement financing round with gross proceeds of approximately $8.6 million.
Proceeds from this transaction will be primarily used to advance the late-stage clinical development of Jennerex’s lead product candidate, JX-594, a novel oncolytic agent that has demonstrated promising antitumor activity in phase I and phase II clinical trials.
“This financing will allow us to continue to build on the promising results we have reported from our clinical trials in advanced liver cancer–in particular the recently completed randomized phase II clinical trial in advanced liver cancer indicating an overall survival benefit for patients in the high dose JX-594 group,” stated David Kirn, M.D., president and chief executive officer of Jennerex.