Jennerex licenses lead cancer compound to Transgene in over $116 million deal

US privately-held oncology-focussed drug developer Jennerex has entered into an exclusive partnership with French drugmaker Transgene (TNG: FP) to develop and commercialize JX-594 for the treatment of solid tumors.

As part of this agreement Transgene has made an upfront, undisclosed, equity investment in Jennerex, and the latter is also 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, Jennerex has an option for co-promotion and profit-sharing in the five major European countries.

JX-594, Jennerex' lead cancer biotherapeutic product, has shown anticancer activity and a well-tolerated safety profile in Phase I and Phase II clinical trials to date. Objective tumor response has been demonstrated in a variety of cancers including liver, colon, kidney, lung and melanoma, the US firm noted.