BioCentury
ARTICLE | Company News

SillaJen acquiring cancer company Jennerex

November 27, 2013 1:10 AM UTC

CRO SillaJen Inc. (Busan, South Korea) is acquiring cancer company Jennerex Biotherapeutics Inc. (San Francisco, Calif.) for up to $150 million in cash in an undisclosed upfront payment, plus milestones. SillaJen has provided Jennerex with trial support services since 2007 and already owns about 25% of Jennerex, which will become a subsidiary of the CRO.

Jennerex is developing Pexa-Vec, a recombinant vaccinia virus that expresses GM-CSF and lacks thymidine kinase. By 4Q14, the company plans to start a Phase III trial of the product for first-line treatment of hepatocellular carcinoma (HCC). In September, Jennerex's partner Transgene S.A. (Euronext:TNG) said Pexa-Vec as second-line treatment for HCC missed the primary endpoint in the Phase IIb TRAVERSE trial. Transgene holds an 8.5% stake in Jennerex (see BioCentury Extra, Sept. 4). ...