SillaJen changes its name to mark Jennerex acquisition

South Korean privately held pharma company SillaJen has changed its name to SillaJen Biotherapeutics following its acquisition of USA biotech company Jennerex Biotherapeutics.

The acquisition all-cash transaction, announced in November, could reach around $150 million. David McDonald, chief business officer of SillaJen, said: “Completing our name change to SillaJen Biotherapeutics solidifies the merger of these two exciting companies and helps unite us as one company with one mission, which is to develop groundbreaking therapeutics that offer new hope for patients with life-threatening cancers.”

Eun-San Moon, chief executive of SillaJen, said: “We are thrilled that this long-standing partnership between SillaJen and Jennerex resulted in a merger that has married strong funding and scientific expertise from SillaJen and a dedicated team from Jennerex committed to continuing the development of its best-in-class oncolytic immunotherapies which are continuously building with successes in the field.