Jennerex, Inc., a San Francisco-based clinical-stage biotherapeutics company focused on the development and commercialization of targeted oncolytic virus products for cancer, has completed an $8.6m financing.
The company intends to use the proceeds to advance the late-stage clinical development of its lead product candidate, JX-594, a novel oncolytic agent that has demonstrated promising antitumor activity in Phase 1 and Phase 2 clinical trials.
Led by David Kirn, M.D., president and CEO and Gregory W. Schafer, senior vice president and CFO, Jennerex focuses on the development and commercialization of products designed to attack cancer tumors through three diverse mechanisms of action:
– the lysis of cancer cells through viral replication,
– the ablation of the blood supply to tumors through vascular targeting and destruction and
– the stimulation of the body’s immune response against the cancer, i.e., active immunotherapy.
The company has related research and development operations in Ottawa, Canada and Pusan, South Korea.