Jennerex Snags $116M Deal With Transgene

Jennerex, a San Francisco-based developer of cancer treatments, is announcing today it has struck a deal with France-based Transgene. Under the deal, Transgene has made an undisclosed equity investment, agreed to pay milestone payments worth as much as $116 million, and provide Jennerex with a double digit percentage royalty on sales of JX-594. In return, Transgene will get exlusive rights to commercialize the drug in Europe, the Middle East, and the Commonwealth of Independent States. The companies are hoping to commercialize an oncolytic virus, a virus that specifically seeks out cancer cells and kills them. The companies are planning to test the drug for liver and colorectal tumors in mid-to-late stage clinical trials

Author: Luke Timmerman

Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.