Click here to close now.




















Welcome!

News Feed Item

SillaJen Announces Completion of Jennerex, Inc. Acquisition

Union Creates Global Leader In Targeted Oncolytic Immunotherapy

BUSAN, South Korea and SAN FRANCISCO, March 17, 2014 /PRNewswire/ -- SillaJen, Inc., a privately-held biotherapeutics company focused on the development of targeted oncolytic immunotherapy products for cancer, announced today that it had completed the acquisition of San Francisco-based Jennerex, Inc. Privately-held Jennerex is a clinical-stage, biotherapeutics company recognized as a global leader in the development of best-in-class targeted oncolytic immunotherapies. SillaJen will continue the development of the late-stage product Pexa-Vec (JX-594), as well as products from both companies' pipelines.  Jennerex is now a wholly-owned subsidiary of SillaJen.

"We are very excited to achieve this defining moment in SillaJen's history," stated Dr. Eun-Sang Moon, Chief Executive Officer of SillaJen. "The strategic acquisition of Jennerex is a natural evolution of the long-standing collaboration between the two companies, solidifying SillaJen's position as a global leader in the emerging and exciting field of oncolytic immunotherapy."

Dr. David Kirn, founder of Jennerex and Chairman of the SillaJen board of directors commented, "SillaJen's acquisition of its long-standing research and development partner positions it as the world leader in oncolytic immunotherapy. Positive Pexa-Vec clinical data have recently been published in leading peer-reviewed journals, including Nature and Nature Medicine. The incredible potential of this emerging multi-mechanistic therapeutic class has also been validated by the demonstration of a survival benefit in front-line advanced cancer patients with both Pexavec and Amgen's T-Vec in randomized Phase 2 and 3 trials, respectively. We look forward to working with our global partners to bring Pexa-Vec into a Phase 3 pivotal trial for front-line treatment of patients with advanced liver cancer. Pexa-Vec has also demonstrated objective and durable tumor responses in other common cancer types, and these will be the focus of upcoming clinical trials. These trials will study Pexa-Vec as both a single agent and in combination with checkpoint inhibitor therapies."

Wedbush PacGrow Life Sciences, Korea Ratings, and Dong-Bu Securities, Co., Ltd. acted as financial advisors to SillaJen, while Latham & Watkins LLP served as legal advisor. Centerview Partners LLC and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP advised Jennerex, Inc.

About Pexa-Vec
Pexa-Vec (JX-594, pexastimogene devacirepvec) is derived from vaccinia, which has been used for decades as a vaccine in healthy individuals, and is engineered to selectively target cancer cells. Pexa-Vec is also engineered to express GM-CSF, a white blood cell growth factor, which activates a systemic immune response to kill tumor cells throughout the body. Pexa-Vec exploits the unique characteristics of vaccinia, including its stealth extracellular enveloped form, which allows the virus to survive in the bloodstream in the presence of neutralizing antibodies, leading to its ability to be administered both intravenously (IV) and intratumorally (IT). Unlike many targeted therapies that rely on a single target, Pexa-Vec is applicable to multiple solid tumor types.

Phase 1 and Phase 2 clinical trials in multiple cancer types have shown that Pexa-Vec, delivered either directly into tumors or intravenously, induces tumor shrinkage and/or necrosis and has been well-tolerated in over 250 patients treated to date (Breitbach et al., Nature, 2011, Heo et al. Nature Medicine 2013). Objective tumor responses have been demonstrated in a variety of cancers including liver, colon, kidney, lung cancer and melanoma. Pexa-Vec has had a predictable and manageable safety profile to date which includes flu-like symptoms that typically resolve in 24 hours.

Pexa-Vec is currently being evaluated in a Phase 2 clinical trial in patients with treatment-refractory colorectal cancer as monotherapy and in combination with irinotecan, and in a Phase 2 clinical trial in treatment-refractory kidney cancer patients.

Hepatocellular Carcinoma: A Global Unmet Need
Hepatocellular carcinoma (HCC) is the fifth most common cancer worldwide and the third leading cause of cancer death, with over 600,000 new cases diagnosed annually resulting in more than 90 percent mortality.i The annual incidence rate in the U.S., Europe, Japan and China are estimated to be 20,000, 55,000, 40,000 and 350,000 patients, respectivelyii. Currently, there is only one approved systemic treatment for advanced HCC patients that has demonstrated a survival benefit.

About SillaJen, Inc.
SillaJen, Inc., headquartered in Busan, South Korea with offices in San Francisco, California, is an R&D company specializing in the translational and clinical development of complex biologics.  Headquartered on the campus of Pusan National University, the company is comprised of dedicated in-house pre-clinical, bioanalytic, and clinical research teams that collaborate closely with a network of local hospitals and USA-based world-class scientists and physicians. Born from a desire to revolutionize therapeutic approaches for patients with serious unmet medical needs and honed through years of pioneering experience guiding oncolytic vaccinia through clinical trials in Korea, the SillaJen operations are uniquely poised for rapid and efficient development of similar cutting-edge gene and viral therapies.  Additional information about SillaJen can be found at www.sillajen.com.

About Jennerex
Jennerex is a clinical-stage biotechnology company focused on the development and commercialization of groundbreaking oncolytic immunotherapies for patients with life-threatening cancers. The company's lead product candidate, Pexa-Vec (JX-594), is in mid-stage clinical development for the treatment of advanced primary liver cancer, colorectal cancer, kidney cancer and ovarian cancer, and its next generation product candidate, JX-929, is under investigation for a variety of other solid tumors. Jennerex is headquartered in San Francisco and has related research and development operations in Ottawa, Canada and South Korea. Pexa-Vec is partnered in Europe with Transgene, a member of the Institute Merieux group, in South Korea with Green Cross Corporation and in China with Lee's Pharmaceutical Holdings. For more information about Jennerex, please visit www.jennerex.com.

SillaJen Contact: U.S.
David A. McDonald – Chief Business Officer
[email protected]

SillaJen Contacts: Korea
Dr. Eun-Sang Moon – Chief Executive Officer (Investors)
[email protected]  

Dr. Tae-Ho Hwang – Co-Founder and Chief Scientific Officer (Media)
[email protected]

i http://www.who.int/mediacentre/factsheets/fs297/en/

ii Ferlay J, Shin HR, Bray F, Forman D, Mathers C and Parkin DM.GLOBOCAN 2008 v2.0, Cancer Incidence and Mortality Worldwide: IARC CancerBase No. 10 [Internet]. Lyon, France: International Agency for Research on Cancer; 2010. Available from: http://globocan.iarc.fr

SOURCE SillaJen, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Enterprises can achieve rigorous IT security as well as improved DevOps practices and Cloud economics by taking a new, cloud-native approach to application delivery. Because the attack surface for cloud applications is dramatically different than for highly controlled data centers, a disciplined and multi-layered approach that spans all of your processes, staff, vendors and technologies is required. This may sound expensive and time consuming to achieve as you plan how to move selected applicati...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...