Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today
announced major progress in the development of COVISHIELD through
the license of intellectual property developed by the scientific
team at the Icahn School of Medicine at Mount Sinai (“Mount
Sinai”). Sorrento and Mount Sinai have entered into an Exclusive
License Agreement for a collection of antibodies having SARS-CoV-2
neutralizing properties that were developed by Mount Sinai.
The license also contemplates Sorrento and Mount Sinai pursuing
future collaborations in developing humanized monoclonal antibodies
for therapeutic applications.
COVISHIELD, which is under development, will be a combination of
two monoclonal antibodies designed to protect against disease
caused by existing and emerging variants of SARS-CoV-2. Using the
early pandemic variants as well as the emerging variants of concern
(“VOCs”) that have increased in prevalence globally through the
course of the pandemic, Sorrento identified candidate monoclonal
antibody combinations, or “cocktails”, with potent activity against
the breadth of these VOCs, including the United Kingdom (B.1.1.7),
South Africa (B.1.351), and Japan/Brazil (B.1.128) variants.
Positive results from these laboratory studies are expected to
support the future research path and FDA evaluation of
COVISHIELD.
COVISHIELD represents a coordination of the discovery and
development resources of Sorrento, incorporating intellectual
property developed by Mount Sinai, in order to provide a rapid and
dynamic means of responding to changes in the public health burden
posed by coronaviruses and similar pandemic threat pathogens.
Sorrento is developing capabilities and solutions with a goal of
contributing to pandemic readiness.
Sorrento Chairman and CEO, Dr. Henry Ji, commented, “We are
pleased with the excellent COVISHIELD antibody candidates
identified thus far, and we at Sorrento are committed to rapidly
developing the COVISHIELD cocktail against known and emerging
COVID-19 variants of concern. Sorrento looks forward to future
collaborations with the respected research capabilities of Mount
Sinai centered on the development of innovative anti-viral and
anti-cancer therapeutic candidates.”
About Sorrento Therapeutics, Inc.
Sorrento is a clinical stage, antibody-centric,
biopharmaceutical company developing new therapies to treat cancers
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”), clinical stage immuno-cellular therapies
(“CAR-T”, “DAR-T™”), antibody-drug conjugates (“ADCs”), and
clinical stage oncolytic virus (“Seprehvir™”). Sorrento is also
developing potential antiviral therapies and vaccines against
coronaviruses, including COVIGUARD™, COVI-AMG™, COVISHIELD™,
Gene-MAb™, 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 the neutralizing
capabilities of COVISHIELD antibody combinations and potential
effectiveness against COVID-19 and any variants of the disease; the
therapeutic potential of COVISHIELD for SARS-CoV-2 and COVID-19
disease; the potential clinical relevance and/or significance of
clinical studies of STI-2020 and STI-2099; any future agreements or
collaborations that may be entered into or occur, respectively,
between Sorrento and Mount Sinai; the efficacy of candidate
monoclonal antibody combinations against Sars-CoV-2 and any
emerging variants of concern; expectations regarding results of
laboratory studies of COVISHIELD, and the potential for any results
to support the future research path and FDA evaluation of
COVISHIELD; Sorrento’s and Mount Sinai’s ability to provide a rapid
and dynamic means of responding to changes in public health burden
posed by coronaviruses and similar pandemic threat pathogens;
expectations regarding Sorrento’s development of capabilities and
solutions to contribute to pandemic readiness; Sorrento’s
commitment to rapidly developing and commercializing COVISHIELD
against known and emerging COVID-19 variants of concern; and
Sorrento’s potential position in the diagnostics testing and
therapeutics industries. 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 and its subsidiaries',
affiliates’ and partners’ technologies and prospects and
collaborations with partners, including, but not limited to risks
related to conducting pre-clinical and clinical studies and seeking
regulatory approval for COVISHIELD, including the timing for
receipt of any such approval; conducting and receiving results of
clinical trials; 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 the company in the execution of its COVID-19 therapeutic
product candidates strategies; risks related to the global impact
of COVID-19; and other risks that are described in Sorrento’ 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.
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™, Gene-MAb™, 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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