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Sorrento out-licenses anti-PDL1 mAb

Oct. 06, 2014 4:46 PM ETSorrento Therapeutics, Inc. (SRNEQ) StockBy: Douglas W. House, SA News Editor
  • Sorrento Therapeutics (NASDAQ:SRNE -3.8%) licenses its fully human immune-oncology anti-PDL1 mAb, STI-A1014, to China Oncology Focus Limited, an affiliate of Lee's Pharmaceutical Holdings Limited (Lee's Pharma).
  • Under the terms of the agreement, Lee's Pharma receives exclusive rights to develop and commercialize STI-A1014 for the greater Chinese market, including Mainland China, Hong Kong, Macau and Taiwan. Sorrento receives an upfront payment, future milestones and single-digit to double-digit royalties on net sales. In total, Sorrento may receive more than $46M if the key milestones are achieved. In addition, Lee's Pharma will invest $3.6M in Sorrento at a substantial premium to today's price.

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