Sillajen, a Seoul, South Korea-based global oncolytic immunotherapeutic company, raised $12m in funding.
Medivate Partners made the investment. In conjunction with the funding, Mr. Paul Kim, CEO & Managing Partner of Medivate Partners, will join the Board of Directors of Sillajen.
The company will use the funds to complete the on-going Phase III study of its lead product, Pexa-Vec (JX-594), an oncolytic virus with demonstrated intravenous delivery to tumors and induction of cancer-targeting antibodies. It is currently in Phase III multi-national clinical development in US, Europe and Asia.
Sillajen plans to go public in the Korean stock market by the end of 2016.