Jennerex Appoints Gregory W. Schafer ('92) as Chief Financial Officer

Jennerex, Inc., a clinical-stage cancer biotherapeutics company, announced the appointment of Gregory W. Schafer ('92) as senior vice president and chief financial officer. Mr. Schafer will be responsible for the Company's finance, accounting, planning, investor relations and treasury functions.

"Greg's finance and operations experience in the life sciences industry make him an ideal fit for Jennerex at this pivotal time for the company," said David H. Kirn, M.D., president and chief executive officer of Jennerex. "Importantly, Greg's successful track record in raising capital and his involvement in bringing products through clinical development to the market will make him invaluable as we move JX-594 into Phase 3 clinical trials. Additionally, we are grateful to Ian Malone, who has been a significant contributor to Jennerex as our CFO in recent years and who has now transitioned into an advisory capacity."

Schafer brings more than 20 years of broad functional and strategic leadership expertise to Jennerex and has raised over $600 million in public and private transactions to fund biotechnology product development and commercialization activities. Most recently, he served as chief financial officer of Onyx Pharmaceuticals, Inc., where he was responsible for finance, accounting, risk management, and strategic and operational planning. Prior to Onyx, he served as chief financial officer and vice president of finance for Cerus Corporation, where he played a key role in transitioning the company from early-stage development to a commercial enterprise with an approved product. Prior to Cerus, Schafer worked as a management consultant for Deloitte and Touche, LLP and as an engineer specializing in biologics manufacturing.

Schafer also serves on the board of directors for Nile Therapeutics, a public biotechnology company. He received his MBA from UCLA Anderson and a BSE in mechanical engineering from the University of Pennsylvania.

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