San Francisco -- Jennerex, a San Francisco-based clinical stage biopharmaceutical firm, said on Tuesday that it has raised $5.1 million in the first closing of a private placement. The company, which is developing a targeted oncolytic drug for cancer, said that it expects to complete a second closing with additional proceeds by Sept. 15. Jennerex, which also has operations in Canada, said that it will use the proceeds to advance its clinical development programs. "This funding, together with cash resources on hand, is expected to cover operations for the next 16 months, through the end of 2010," said David Kirn, the company's president and CEO.
http://www.jennerex.com
http://finance.yahoo.com/news/Jennerex-Closes-5-Million-prnews-505649700.html?x=0&.v=1
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