Jennerex is a private, clinical-stage Biotherapeutics Company focused on the development and commercialization of best-in-class, breakthrough targeted oncolytic immunotherapies for solid tumors. The Company is focused on two main programs, lead product candidate, Pexa-Vec (JX-594), which is in mid-stage clinical development for the treatment of advanced primary liver cancer and colorectal cancer, and JX-929 which 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 Busan, South Korea.
We have licensed to Transgene exclusive rights to develop and commercialize JX-594 in Europe, the CIS and the Middle East. Together, we will co-develop Pexa-Vec worldwide, with Transgene responsible for development costs and for clinical development in its licensed territories, pursuant to the Pexa-Vec global development plan. Transgene is responsible for commercialization and has the right to manufacture Pexa-Vec in the Transgene territory. As part of this agreement Transgene has made an upfront equity investment in Jennerex, and we are further eligible to earn a total of up to $116 million in development and registration milestones as well as double digit royalties on a tiered structure. In addition, we have an option for co-promotion and profit-sharing in the five major European countries. (See press release)
We currently have a product development and licensing agreement for Pexa-Vec with Green Cross Corp (Seoul, S. Korea) for the Korean market. Together we are focused on the development and eventual commercialization of Pexa-Vec for liver cancer in the Korean market. Green Cross is a leading company in the development, manufacturing, and commercialization of viral vaccines and other biological products. (See press release)
We are partnered with Lee's Pharmaceutical Holdings (HK Stock code: 8221) for Pexa-Vec development and commercialization in China. Lee's is a public biopharmaceutical company with over 14 years operation in China's pharmaceutical industry. It is fully integrated with solid infrastructures in drug development, clinical development, regulatory, manufacturing, sales and marketing in China with global perspectives and currently markets six products. (See press release)
SillaJen is a biotechnology company established to support collaborations with us in the areas of clinical assay development and services as well as translational research for the production of oncolytic immunotherapies. SillaJen's collaboration activities are led by Dr. Tae-Ho Hwang, our research advisor and head of Pusan Research Site. SillaJen has been a collaborator and a major investor in Jennerex since 2006.