SillaJen Pays $150M For Tumor Treatment Firm

Law360, New York (November 26, 2013, 8:47 PM EST) -- South Korea-based biotherapeutics and contract research company SillaJen Inc. will acquire San Francisco clinical-stage biotechnology firm Jennerex Inc. for about $150 million, SillaJen said Tuesday, in a merger that would bring together two companies that have previously partnered in the quest against cancer.

The all-cash deal, which is expected to close in the first quarter of 2014, merges two companies that have been clinical research partners dating back to 2007, according to a SillaJen statement released Tuesday. Upon completion of the transaction, Jennerex will keep its...
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