Sorrento furthers Mesenchymal Stem Cell Program to the pipeline of COVID-19 rescue therapies

• Sorrento Therapeutics (NASDAQ:SRNE) enters into an exclusive license agreement with Personalized Stem Cells to acquire global rights to its adipose derived mesenchymal stem cells (or MSCs), which have been cleared for a Phase 1 clinical trial by the FDA.
• These will be used for patients suffering from acute respiratory distress syndrome (or ARDS) associated with COVID-19.
• Sorrento will be assuming responsibility for executing the Phase 1 trial, which is targeted to enroll about 20 hospitalized COVID-19 patients in California.
• Stem cells have the potential to reduce the long-term effects associated with pulmonary tissue damage for these patients.
• Previously: Sorrento R&D event for COVID-19 on October 13 (Oct. 5)