Navigation Links
Jennerex Closes $5 Million First Tranche of Series C Financing
Date:8/11/2009

SAN FRANCISCO, Aug. 11 /PRNewswire/ --Jennerex, Inc. (San Francisco, CA and Ottawa, Ontario), a clinical stage biopharmaceutical company developing a proprietary breakthrough class of targeted oncolytic virus therapeutics, today announced the first closing of a private placement financing with gross proceeds of US $5,123,521, exceeding the target of $5 million USD. A second closing is anticipated on or before September 15, 2009, with additional proceeds to be determined.

The net proceeds of the private placement will be used to continue advancing the Company's clinical development programs with the lead product JX-594. Key value creating trials include the following: initiation of a randomized Phase 3 liver cancer trial, completion of a Phase 2 colon cancer trial and a Phase 1 trial targeting lung cancer and other solid tumors. Proceeds will also be used for research and development, general corporate purposes and to augment working capital.

"We are again delighted by the enthusiastic support of existing shareholders, and also welcome several new shareholders to the Company," said David H. Kirn, M.D., President and CEO. "This funding, together with cash resources on hand, is expected to cover operations for the next 16 months, through the end of 2010, and specifically to fund the company through significant value inflection points, including completion of the above-mentioned Phase 1 and Phase 2 clinical trials," said Dr. Kirn.

About Jennerex

Jennerex is a clinical-stage biopharmaceutical company focused on the development and commercialization of first-in-class, breakthrough targeted oncolytic products for cancer. The Company's lead product JX-594, currently in an international Phase 2 trial for primary liver cancer, demonstrated promising Phase 1 efficacy and safety results in patients with a diverse array of common large market cancers. Jennerex's products target, attack and eradicate cancers through a novel and potent oncolytic mechanism that is dependent on highly-specific replication of the Company's poxviruses in cancer cells. These products simultaneously stimulate the body's immune response to the cancer. Of note, this mechanism of action and the results in patients to date put the Company's product class in a leadership position. Jennerex Biotherapeutics was established in San Francisco and in Ottawa in 2006 with Dr. David Kirn (CEO) in San Francisco and Dr. John Bell (CSO) from the Ottawa Hospital Research Institute/University of Ottawa. For more information about Jennerex and the Company's robust pipeline of three clinical-stage products, please visit www.jennerex.com .


'/>"/>
SOURCE Jennerex, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Nature Reviews Publishes Article About Jennerexs Multi-Mechanistic Cancer Therapeutic
2. Jennerex Appoints Samantha Miller as Vice President of Corporate Development
3. Jennerex Completes $8.3 Million Series B Financing and Appoints Dr. Cal Stiller as Director
4. Jennerex Appoints Bob Ingram Special Advisor and Hires Marty Glick as EVP, Corporate Strategy
5. Micromet Closes $80.5 Million Public Offering of Common Stock
6. PharmAthene, Inc. Closes on $19.3 Million Private Placement of Convertible Notes and Common Stock Warrants
7. Signostics Closes Follow-On Financing of US$4 Million, Expands Board of Directors
8. NewLink Genetics Corporation Closes $7.5 Million Financing
9. Pharmaxis Closes Share Purchase Plan
10. China Biologic Products Closes the $9.6 Million Private Placement
11. AEterna Zentaris Discloses Preliminary Phase 2 Trial Results for Perifosine in Combination with Radiotherapy for Non-Small Cell Lung Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/6/2016)... ... May 06, 2016 , ... Crucial ... Clinical Studio Version 4.1, greatly improves performance of the platform. In particular, Version ... generate tremendous volumes of data to be collected on a per patient basis. ...
(Date:5/5/2016)... BLUE BELL, Pa. , May 5, 2016 /PRNewswire/ ... X. Powers and Lorna Weir launching ... atypical, un-agency way? Because they believe that truly helping ... dynamic world of healthcare now demands a different type ... multidisciplinary strategy lab serving the pharmaceutical, biotechnology and medical ...
(Date:5/4/2016)... , ... May 04, 2016 , ... Proove Biosciences, ... announce a strategic partnership with McGill University . The partnership is designed to ... market in order to help patients in pain. With the new agreement, researchers at ...
(Date:5/4/2016)... ... May 04, 2016 , ... PBI-Gordon Corporation is pleased to ... , Doug began his career at PBI-Gordon in February 1988, after finishing his ... variety of roles, ranging from customer service to national product manager, to helping develop, ...
Breaking Biology Technology:
(Date:3/15/2016)... 2016 --> --> ... Market Research "Digital Door Lock Systems Market - Global Industry ... the global digital door lock systems market in terms of ... is forecast to grow at a CAGR of 31.8% during ... medium enterprises (MSMEs) across the world and high industrial activity ...
(Date:3/11/2016)... 2016 --> ... "Image Recognition Market by Technology (Pattern Recognition), by Component ... Deployment Type (On-Premises and Cloud), by Industry Vertical and ... MarketsandMarkets, the global market is expected to grow from ... by 2020, at a CAGR of 19.1%. ...
(Date:3/9/2016)... BEACH GARDENS, Fla. , March 9, 2016 ... identity management authentication and enrollment solutions, today announced ... DigitalPersona ® Altus multi-factor authentication ... IT and InfoSec managers to step-up security where ... Washington, DC . ...
Breaking Biology News(10 mins):