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.