SUZHOU, China, May 4, 2017 /PRNewswire/ -- Sorrento
Therapeutics, Inc. (NASDAQ: SRNE; "Sorrento"), announced today that
its subsidiary, Levena Biopharma Co., Ltd. ("Levena"), has
completed construction and put into operation a 25,000 square foot
Good Manufacturing Practice (GMP) manufacturing facility in Suzhou,
China. The facility will be fully dedicated to supporting
Sorrento's antibody drug conjugate (ADC) pipeline and growing
service business.
Sorrento currently has a dozen pre-clinical cancer focused ADCs
that are partnered with biopharmaceutical companies worldwide,
under the Levena brand. These partnerships have ADC candidates at
various stages of development, including a HER2-targeting ADC which
has an expected IND filing with the China Food and Drug
Administration (CFDA) in 2017. Sorrento expects to receive service
revenue and royalties on its partnered ADC programs. Additionally,
Sorrento is advancing two proprietary anti-cancer ADC product
candidates into IND enabling studies, including its proprietary
anti-CD38 ADC and an anti-c-MET ADC. Both proprietary anti-cancer
ADC programs were generated from Sorrento's fully human GMAB™
library and leverage on Levena's proprietary site-specific
conjugation chemistry (K-Lock™ and C-Lock™) and proprietary novel
toxin payloads.
"ADC process development and manufacturing has historically been
challenging to the industry as it requires a high level of
technical expertise and specific know how. Our new plant has been
designed to provide full analytical support capabilities, GMP
production of toxin-linkers based on our proprietary technology and
methods, as well as GMP-grade bioconjugation of the antibody to
produce ADCs. The launch of this state of the art plant, in
addition to our existing ADC research sites in Nanjing, China and San
Diego, demonstrates Sorrento's commitment to our ADC
pharmaceutical partners as well as ensures a consistent supply for
our own ADC franchise which is nearing the clinic," said Dr.
Henry Ji, President and CEO of
Sorrento.
About Sorrento Therapeutics, Inc.
Sorrento is an antibody-centric, clinical stage
biopharmaceutical company developing new treatments for
immuno-oncology, inflammation and autoimmune diseases. Sorrento's
lead product candidates include immunotherapies focused on the
treatment of both solid tumors and hematological malignancies, as
well as late stage pain products.
About Levena Biopharma, Co., Ltd.
Levena Biopharma Co., Ltd., established in 2013, is engaged in
technology partnership and process development to enable novel
antibody-drug conjugate (ADC) therapeutic development. The company
has research and manufacturing sites in Suzhou, Nanjing and San
Diego.
Forward-Looking Statements
This press release and any statements made for and during any
presentation or meeting contain forward-looking statements related
to Sorrento Therapeutics, Inc. and its subsidiaries under the safe
harbor provisions of Section 21E of the Private Securities
Litigation Reform Act of 1995 and subject to risks and
uncertainties that could cause actual results to differ materially
from those projected. Forward-looking statements include statements
regarding the developments of and prospects for the anti-cancer ADC
programs including the timing of any IND filings ; Sorrento's
expectations for its technologies and acquisitions; Sorrento's
expectations for any of its clinical programs and studies;
Sorrento's and its subsidiaries' prospects; and other matters that
are described in Sorrento's most recent periodic reports filed with
the Securities and Exchange Commission, including Sorrento's Annual
Report on Form 10-K for the year ended December 31, 2016, as
amended, including the risk factors set forth in those filings.
Investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release and we undertake no obligation to update any
forward-looking statement in this press release except as required
by law.
Sorrento® and the Sorrento logo are registered trademarks of
Sorrento Therapeutics, Inc.
All other trademarks and trade names are the property of their
respective owners.
© 2017 Sorrento Therapeutics, Inc. All Rights
Reserved.
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