Sorrento Therapeutics: Has The Potential To Become Next Abraxis
Grant Zeng, CFA
Grant Zeng, CFA
Mon, Jul. 11, 10:19 AM
- Sorrento Therapeutics (SRNE -0.3%) closes a license and collaboration agreement with French drug maker Servier for the development, manufacture and commercialization of Sorrento's IND-stage STI-A1110, a fully human immuno-oncology anti-PD-1 monoclonal antibody.
- Under the terms of the deal, Sorrento will receive an upfront payment of €25M, milestones up to €710M and high single-digit to double-digit royalties on net sales.
Mon, May 16, 10:44 AM
- Mabtech Ltd., a biosimilar development and commercialization partner with Sorrento Therapeutics (SRNE +3.1%), completes a successful Phase 2/3 clinical trial in China assessing Sorrento's STI-004, a biosimilar antibody of Roche (OTCQX:RHHBY +0.8%) and Novartis' (NVX +0.2%) asthma and urticaria med Xolair (omalizumab).
- STI-004 is one of four monoclonal antibodies licensed by Sorrento from Mabtech last year for the territories of North America, Europe and Japan.
- Previously: Sorrento inks biosimilar antibody deal with China's Mabtech (Aug. 3, 2015)
Mon, May 16, 9:19 AM
Mon, May 9, 1:12 PM
- Thinly traded micro cap Sorrento Therapeutics (SRNE +7.2%) announces that, earlier this year, it engaged Guggenheim Securities and PJT Partners to assist it in assessing strategic alternatives to maximize shareholder value.
- The company has no definite timeline for any type of deal and says there is a possibility of no deal at all. It does not intend to disclose any further information on the matter until such time as a material event warrants such disclosure.
- The company's oncology pipeline includes six monoclonal antibodies and five CAR-T programs.
Wed, Apr. 6, 9:06 AM
Tue, Apr. 5, 7:12 AM
- Sorrento Therapeutics (NASDAQ:SRNE) enters into definitive agreements with institutional investors and its strategic corporate partner, Yuhan Corp. of South Korea, for the private placement of ~$150M of newly issued common stock at $5.55 per share and warrants to purchase common stock at $8.50 per share.
- Net proceeds will fund pipeline development and general corporate purposes.
- Yesterday's close was $6.30.
- Read now Sorrento Therapeutics Bottoming At $5 To $6 Per Share And Offering Material Upside
Wed, Mar. 2, 10:22 AM
- Sorrento Therapeutics (SRNE +4.4%) and South Korean pharma firm Yuhan form a joint venture company, ImmuneOncia Therapeutics, LLC, to develop and commercialize immune checkpoint inhibitors against undisclosed targets in certain blood cancers and solid tumors.
- Under the terms of the agreement, Yuhan will make an initial investment of $10M and Sorrento will grant ImmuneOncia an exclusive license to one of its immune checkpoint antibodies for selected territories exclusive of the U.S., Europe and Japan. The JV will also have global rights to two additional antibodies that will be selected by ImmuneOncia from Sorrento's portfolio.
- Yuhan will own 51% of ImmuneOncia while Sorrento will own 49%. Yuhan Chief Scientific Officer Dr. Su Youn Nam will lead the venture as CEO.
- The first of the three immune checkpoint antibodies should enter clinical trials in 2017.
Tue, Jan. 12, 8:33 AM
- Cellectis S.A. (NASDAQ:CLLS) is up 9% premarket on light volume in response to the news that it has developed a new chimeric antigen receptor (CAR) architecture that permits control over CAR-T cell functions, potentially enabling the ability to control unwanted risks such a cytokine-release syndrome and "on-target, off-tumor" effect. Currently, the only remedies for these effects rely on suicide mechanisms that completely eradicate the engineered T-cells which results in a premature end of the treatment.
- Cellectis scientists engineered a system directly integrated with the CAR architecture by adding a small molecule that turns a CAR-T cell from an "off" state to an "on" state, thereby controlling activation and mitigating the risk of CAR-induced toxicities. It also creates opportunities for spatial activation of the engineered CAR-T cells using local targeted drug delivery.
- The study was just published in the journal Scientific Reports.
- Related tickers: (NASDAQ:JUNO)(NASDAQ:KITE)(NASDAQ:BLUE)(NASDAQ:BLCM)(NYSE:NVS)(NASDAQ:SRNE)
Dec. 22, 2015, 12:50 PM
- Thinly traded micro cap Sorrento Therapeutics (SRNE +16.4%) shows some pep in early trading on triple normal volume. The only news is the initiation of coverage by FBR capital with an Outperform rating and $22 (142% upside) price target.
- The company is developing a range of monoclonal antibodies and immuno-oncology therapies. Its one of many in the universe of Dr. Patrick Soon-Shiong, who became famous after he founded and sold Abraxis BioScience to Celgene for $3B in 2010.
Oct. 19, 2015, 7:05 AM
- Sorrento Therapeutics (NASDAQ:SRNE) appoints Jeffrey Su, Ph.D., as EVP and Chief Operating Officer. He joins the firm from Cytovance Biologics where he was Chief Scientific and Development Officer.
Aug. 10, 2015, 10:52 AM
- Sorrento Therapeutics (SRNE +1.7%) subsidiary TNK Therapeutics acquires multiple preclinical and clinical stage chimeric antigen receptor (CAR)-T immunotherapy programs in addition to the underlying CAR-T technology from two undisclosed privately-held biotech firms. The programs target solid tumors as well as infectious diseases.
- The transaction enables TNK to accelerate the development of in-house adoptive immunotherapies, including the off-the-shelf" CAR.TNK, programs, with partner NantKwest (NASDAQ:NK).
- Sorrento will provide additional information about the CAR-T programs, the underlying technology and biosimilar/biobetter antibodies in an updated corporate presentation later this month.
- Financial terms of the deal are undisclosed.
Aug. 3, 2015, 1:46 PM
- Sorrento Therapeutics (SRNE +0.9%) enters into an exclusive license agreement with China-based Mabtech to develop and commercialize multiple prespecified and undisclosed biosimilar or biobetter antibodies. Under the terms of the agreement, Sorrento will develop and market four monoclonal antibodies for the North American, European and Japanese markets.
- Each product candidate has completed a Phase 3 trial, two are currently under regulatory review in China and two are under data analyses in preparation for regulatory filings in China. The four represent a $13B+ global market.
- Specific financial terms of the deal are not disclosed.
Jul. 28, 2015, 12:40 PM
Jul. 28, 2015, 12:34 PM
- NantKwest (NASDAQ:NK) is up a respectable 33% on its first day of trading. Turnover is over 7M shares.
- Investors may have expected a more robust first day pop. They appear to be taking their disappointment out on NantWorks collaborator Sorrento Therapeutics (SRNE -12.2%). Shares are off on double normal volume.
Jul. 20, 2015, 6:47 AM
Jul. 9, 2015, 11:13 AM
- Sorrento Therapeutics (SRNE +5.2%) and NantWorks subsidiary NantBioScience establish a joint venture to develop small molecules against cancer targets that remain illusive for drug developers. Sorrento will contribute its programs for lead inhibitors of the proto-oncogene c-Myc, the master metabolism regulator HIF-1 alpha and an inducer of the tumor suppressor cytokine TRAIL.
- NantBioScience will own 60% of the JV while Sorrento will own 40%. Funding will reflect this split.
- This JV follows NantPharma's acquisition of the rights to Cynviloq and the formation of NantiBody, a JV to develop immunotherapies.
Sorrento Therapeutics, Inc. is a biopharmaceutical company, which engaged in the acquisition, discovery, development and commercialization of proprietary drug therapeutics that address significant unmet medical needs. Its products and technologies have much broader clinical applications... More
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