Jennerex and Lee’s Pharmaceuticals Announce Partnership for JX…

LEE’S WILL FUND AND MANAGE CHINA CLINICAL SITES FOR JENNEREX’S PIVOTAL PROGRAM
AND WILL RETAIN EXCLUSIVE LICENSE RIGHTS IN REGION

Jennerex, Inc., a clinical-stage biotherapeutics company developing a
proprietary breakthrough class of targeted oncolytic virus therapeutics, today
announced in conjunction with Lee’s Pharmaceutical Holdings (HK Stock code:
8221), the execution of a collaboration and license agreement for Jennerex’s
lead product candidate, JX-594, in certain Asian territories. Lee’s is a fully
integrated pharmaceutical group with operations in People’s Republic of China
(PRC), Hong Kong and Macau.

The agreement grants Lee’s an exclusive license to Jennerex’s lead product,
JX-594 for the treatment of hepatocellular carcinoma (HCC) and other cancers in
PRC, Hong Kong and Macau. In return, Jennerex will receive an up-front payment
and milestone payments as well as royalties on commercial sales in the licensed
territories. In addition, Lee’s will participate in the conduct of global
clinical trials with Jennerex, including the pivotal Phase 3 trial, by funding
and managing all clinical trial sites in the PRC and Hong Kong. JX-594 is
currently in Phase 2 clinical development for primary liver cancer and Phase
1/2 for colorectal cancer, and is expected to enter a Phase 3 pivotal trial in
the second half of 2010.

"We are delighted to enter into this partnership with Lee’s for JX-594
clinical development and commercialization. This represents an expansion of our
regional partnering strategy," said David H. Kirn, M.D., President and Chief
Executive Officer of Jennerex. "Partnering JX-594 in Asia is particularly
advantageous to both Jennerex and our partners due to the product’s lead
indication for primary liver cancer, which has a very high incidence and high
unmet medical need in countries throughout Asia. Our successful long-term
partnership with Green Cross in South Korea is an example of this. Lee’s is a
highly capable development and commercial organization in China, and we look
forward to working with Lee’s toward the common goal of JX-594 approval and
commercialization for the benefit of cancer patients."

"We are excited to announce this partnership with Jennerex for JX-594. The
clinical data observed thus far are very strong, and we believe that there will
be great interest in this product candidate in China," stated Dr. Benjamin Li,
Chief Executive Officer of Lee’s. "China reports more than half of the world’s
liver cancer cases. We are pleased to bring this important new product
candidate to China for the many patients in need of an effective treatment for
this disease."

About JX-594
JX-594 is a cancer biotherapeutic product, currently in Phase 2 trials,
from a proprietary breakthrough class of targeted and armed oncolytic and
immunotherapeutic poxviruses. Tumor destruction and safety was shown in
patients with diverse cancer types in three Phase 1 trials; treated patients
were end-stage and had no effective therapies available. JX-594 multiplies
selectively within cancer cells, leading to their destruction. These newly
created copies of JX-594 are then released and are able to infect and eradicate
other tumor cells both locally and in distant sites in the body. This cycle of
JX-594 replication, cancer cell destruction, release and spread is then
repeated. Normal cells are not affected by JX-594 resulting in safety and
tolerability. The poxvirus strain backbone of JX-594 has been used safely in
millions of people as part of a worldwide vaccination program. This strain
naturally targets cancer cells due to common genetic defects in cancer cells.
JX-594 was engineered to enhance this natural safety and cancer-selectivity by
deleting its thymidine kinase (TK) gene, thus making it dependent on the
cellular TK expressed at persistently high levels in cancer cells. To enhance
product efficacy, JX-594 is also engineered to express the GM-CSF protein.
GM-CSF complements the cancer cell lysis work of the product candidate, leading
to a cascade of events resulting in tumor necrosis, tumor vasculature shutdown
and an anti-tumoral immune attack.

About Lee’s Pharma
Lee’s Pharmaceutical Holdings Limited is a public biopharmaceutical company
with over 14 years operation in China’s pharmaceutical industry. It is fully
integrated with solid infrastructures in drug development, clinical
development, regulatory, manufacturing, sales and marketing in China with
global perspectives and currently markets six products. Lee’s Pharma focuses on
several different areas such as cardiovascular and infectious diseases,
dermatology, oncology, gynecology and others. It has more than 20 products
under different development stages stemming from both internal R&D as well as
from the recent acquisition of licensing and distribution rights from various
US and European companies. The mission of Lee’s is to become a successful
biopharmaceutical group in Asia providing innovative products to fight diseases
and improve health and quality of life.

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.

CONTACT: Jennifer Cook Williams,
+1-360-668-3701,
jennifer@cwcomm.org,
of Cook Williams Communications, Inc.
for Jennerex;

Vivian Fung,
Lee’s Pharmaceutical Holdings Limited,
+1-852-2314-1282,
info@leespharm.com