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SillaJen Biotherapeutics, Inc.
Drug Names(s): Vaccinia virus, vvDD-CDSR
Description: JX-929 is an engineered vaccinia virus strain with increased potency optimized for cancer selectivity and the ability to activate potent chemotherapy in tumor tissue. JX-929 attacks cancer both by viral attack and cancer cell lysis (oncolysis), plus with chemotherapy that is selectively activated in cancer tissue.
SillaJen and Jennerex
In November 2013, SillaJen announced that it had executed a definitive merger agreement to acquire San Francisco-based Jennerex. Following the acquisition, Jennerex will become a wholly-owned subsidiary of SillaJen, but will keep its name and remain headquartered in San Francisco. The acquisition, subject to normal closing conditions and completion of financing by SillaJen, is expected to close in the first quarter of 2014. Including potential future milestone payments, total consideration for the all-cash transaction could reach approximately $150 million.
In March 2014, SillaJen announced that it has completed the acquisition of Jennerex. SillaJen will continue the development of Pexa-Vec (JX-594), as well as products from both companies' pipelines. Jennerex is now a wholly-owned subsidiary of SillaJen.
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