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Jennerex Adds Industry Veteran Paul Cleveland to Board of Directors

April 28, 2010

SAN FRANCISCO, April 28 /PRNewswire/ — Jennerex, Inc. (San Francisco, CA and Ottawa, Ontario), a clinical-stage cancer biotherapeutics company, today expanded its board of directors with the appointment of Paul B. Cleveland, executive vice president of corporate development and chief financial officer of Affymax, Inc.

“With JX-594 entering Phase 3 trials for the treatment of liver cancer by the end of this year and a strong pipeline of novel clinical-stage products behind it, we believe Paul’s superior financial acumen and strategic business insight will add important perspective to our board as we evaluate financing and partnering opportunities for optimal growth on our path to commercialization,” said David H. Kirn, M.D., president and chief executive officer of Jennerex.

Mr. Cleveland brings over 20 years of experience in strategic corporate transactions and investment banking to the Jennerex board. As executive vice president of corporate development and chief financial officer for Affymax, he manages all business development, strategic planning, financial and legal activities. Prior to Affymax, he served as managing director of the investment banks Integrated Finance, Ltd. and J.P. Morgan Chase and Co. (formerly Hambrecht & Quist), leading healthcare and technology mergers and acquisitions for the firms. Prior to his tenure in investment banking, he was a partner at Cooley Godward LLP. Mr. Cleveland serves as a member of the board of directors of Sangamo BioSciences, Inc. He holds a J.D. from Northwestern University School of Law and an A.B. from Washington University in St. Louis.

“Paul will be an excellent complement to Jennerex’s board of directors, and we welcome him to our team. His depth of experience will add significant value as we make strategic business decisions going forward,” stated Brennan Mulcahy, chairman of the board of Jennerex.

About Jennerex

Jennerex is a clinical-stage biotherapeutics company focused on the development and commercialization of first-in-class, breakthrough targeted oncolytic products for cancer. The Company’s lead product JX-594, currently in an international randomized Phase 2 clinical trial for patients with primary liver cancer, demonstrated promising Phase 1 efficacy and safety results in patients with a diverse array of common cancers. Jennerex’s products target, attack and eradicate cancers through a novel and potent oncolytic mechanism that is dependent on highly-specific replication of the Company’s poxviruses in cancer cells. These products not only cause cancer cell lysis thereby killing through replication, they simultaneously shut off the blood supply to tumors, as well as stimulating the body’s immune response to the cancer. Jennerex, Inc. is headquartered in San Francisco and has manufacturing and research activities based at the Ottawa Hospital Research Institute in Ottawa, Canada. For more information about Jennerex and the Company’s pipeline of three clinical-stage products, please visit www.jennerex.com .

SOURCE Jennerex, Inc.


Source: newswire



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