Sorrento Exercises Exclusive Option Agreement With Texas A&M University for MPRO Inhibitors Against Sars-Cov-2 and all Variants of Concern
August 26 2021 - 3:42PM
Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") announced
today that it has notified The Texas A&M University System
(“TAMUS”) of its exercise of the option to an exclusive license for
the global development and commercialization of highly potent main
protease (MPro) inhibitors against SARS-CoV-2 and all current and
emerging variants of concern (VOCs). Sorrento and TAMUS previously
announced the signing of the option agreement on August 24th and
25th, respectively:
-
https://investors.sorrentotherapeutics.com/news-releases/news-release-details/sorrento-therapeutics-announces-entry-option-agreement
-
https://today.tamu.edu/2021/08/25/texas-am-researcher-new-drug-could-be-game-changer-against-covid-19
Sorrento’s decision to immediately exercise its option is based
on very promising preclinical data for the lead compound, MPI8,
that shows highly potent broad-spectrum antiviral activity against
SARS-CoV-2 and all of the major Variants of Concern (VoCs) (alpha,
beta, delta and gamma). Based on initial in vitro data, MPI8
demonstrated superior antiviral activity in a head-to-head
comparison with a current Phase 3 investigational oral antiviral
agent (EIDD2801). Based on the IC50 data of the Plague Reduction
Neutralization Test (PRNT) of live virus infecting Vero E6 cells,
MPI8 demonstrated approximately ten-fold (10x) higher antiviral
potency than EIDD-2801 against SARS-CoV-2 and its Alpha (UK) and
Delta (Indian) VoCs and three to seven-fold (3-7x) higher antiviral
potency against Beta (South Africa, 3X) and Gamma (Brazil/Japan,
6-7X) VoCs.
Sorrento expects to complete additional
preclinical studies in the coming weeks, including a head-to-head
comparison against other late-stage clinical candidates, and will
publish its preliminary findings in a pre-print publication.
About Sorrento Therapeutics, Inc.
Sorrento is a clinical and commercial stage
biopharmaceutical company developing new therapies to treat cancer,
pain (non-opioid treatments), autoimmune disease and COVID-19.
Sorrento's multimodal, multipronged approach to fighting cancer is
made possible by its extensive immuno-oncology platforms, including
key assets such as fully human antibodies (“G-MAB™ library”),
immuno-cellular therapies (“DAR-T™”), antibody-drug conjugates
(“ADCs”), and oncolytic virus (“Seprehvec™”). Sorrento is also
developing potential antiviral therapies and vaccines against
coronaviruses, including Abivertinib, COVIGUARD™, COVI-AMG™,
COVISHIELD™, COVI-MSC™ and COVIDROPS™; and diagnostic test
solutions, including COVITRACK™, COVISTIX™ and COVITRACE™.
Sorrento's commitment to life-enhancing
therapies for patients is also demonstrated by our effort to
advance a first-in-class (TRPV1 agonist) non-opioid pain management
small molecule, resiniferatoxin (“RTX”), and SP-102 (10 mg,
dexamethasone sodium phosphate viscous gel) (SEMDEXA™), a novel,
viscous gel formulation of a widely used corticosteroid for
epidural injections to treat lumbosacral radicular pain, or
sciatica, and to commercialize ZTlido® (lidocaine topical system)
1.8% for the treatment of post-herpetic neuralgia. RTX has
completed a Phase IB trial for intractable pain associated with
cancer and a Phase 1B trial in osteoarthritis patients. SEMDEXA is
in a pivotal Phase 3 trial for the treatment of lumbosacral
radicular pain, or sciatica. ZTlido® was approved by the FDA on
February 28, 2018.
For more information visit
www.sorrentotherapeutics.com.
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., 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 Sorrento’s pipeline and plans with respect to its
preclinical and clinical COVID-19 programs, including the MPro
inhibitors to which Sorrento has certain exclusive license option
rights; the antiviral properties of these MPro inhibitors,
including MPI8, and the potential advantage the MPro inhibitors
offer against SARS-CoV-2, its variants of concern and other
coronaviruses; and Sorrento’s plans to develop the MPro inhibitors
to address COVID-19 and other respiratory viruses. Risks and
uncertainties that could cause our actual results to differ
materially and adversely from those expressed in our
forward-looking statements, include, but are not limited to: risks
related to Sorrento's technologies and prospects, including, but
not limited to risks related to seeking regulatory approval for
MPro inhibitors against SARS-CoV-2, its variants of concern and
other respiratory viruses; clinical development risks, including
risks in the progress, timing, cost, and results of clinical trials
and product development programs; risk of difficulties or delays in
obtaining regulatory approvals; risks that clinical study results
may not meet any or all endpoints of a clinical study and that any
data generated from such studies may not support a regulatory
submission or approval; risks that prior test, study and trial
results may not be replicated in future studies and trials; risks
of manufacturing and supplying drug product; risks related to
leveraging the expertise of its employees, subsidiaries, affiliates
and partners to assist Sorrento in the execution of its therapeutic
antibody product candidate strategies; risks related to the global
impact of COVID-19; and other risks 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, 2020, and subsequent Quarterly
Reports on Form 10-Q filed with the Securities and Exchange
Commission, 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.
Media and Investor Relations
ContactAlexis Nahama, DVM (SVP Corporate
Development)Email: mediarelations@sorrentotherapeutics.com
Sorrento® and the Sorrento logo are registered
trademarks of Sorrento Therapeutics, Inc.
G-MAB™, DAR-T™, SOFUSA™, COVIGUARD™, COVI-AMG™,
COVISHIELD™, COVIDROPS™, COVI-MSC™, COVITRACK™, COVITRACE™ and
COVISTIX™ are trademarks of Sorrento Therapeutics, Inc.
SEMDEXA™ is a trademark of Semnur
Pharmaceuticals, Inc.
ZTlido® is a registered trademark owned by
Scilex Pharmaceuticals Inc.
All other trademarks are the property of their
respective owners.
©2021 Sorrento Therapeutics, Inc. All Rights
Reserved.
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