SAN FRANCISCO and ILLKIRCH, France, Sept. 8 /PRNewswire/ -- Jennerex, Inc., a private clinical-stage biotherapeutics company focused on the development and commercialization of first-in-class targeted oncolytic products for cancer, and Transgene (NYSE Euronext Paris: FR0005175080), a bio-pharmaceutical company specialized in the development of immunotherapeutic products, today announced that they have entered into an exclusive partnership to develop and commercialize JX-594 for the treatment of solid tumors in Europe, the Commonwealth of Independent States (CIS) and the Middle East.
JX-594, Jennerex's lead cancer biotherapeutic product, has shown anticancer activity and a well-tolerated safety profile in Phase 1 and Phase 2 clinical trials to date(1). Objective tumor response has been demonstrated in a variety of cancers including liver, colon, kidney, lung and melanoma.
Jennerex has awarded Transgene exclusive rights to develop and commercialize JX-594 in Europe, the CIS and the Middle East. Jennerex and Transgene will co-develop JX-594 worldwide, with Transgene responsible for development costs and for clinical development in its licensed territories, pursuant to the JX-594 global development plan. Transgene is responsible for commercialization and has the right to manufacture JX-594 in the Transgene territory. As part of this agreement Transgene has made an upfront equity investment in Jennerex. Jennerex is further eligible to earn a total of up to $116 million in development and registration milestones as well as double digit royalties on a tiered structure. In addition, Jennerex has an option for co-promotion and profit-sharing in the five major European countries.
The development plan will focus initially on Hepatocellular Carcinoma (HCC), both in first line and in second line, and on colorectal cancer. Transgene and Jennerex intend to initiate a large randomized controlled phase 2b/3 clinical program in HCC patients.
|SOURCE Jennerex, Inc.|
Copyright©2010 PR Newswire.
All rights reserved