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
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...