In response to the government call for rapidly deployable
countermeasures, Sorrento Therapeutics, Inc. (Nasdaq: SRNE,
Sorrento) and SmartPharm Therapeutics Inc. (SmartPharm) today
announced a research and development collaboration to develop a
next-generation, gene-encoded antibody vaccine for COVID-19. The
collaboration will utilize monoclonal antibodies against SARS-CoV-2
virus discovered and/or generated by Sorrento that will be encoded
into a gene for delivery utilizing SmartPharm’s non-viral
nanoparticle platform.
“Over the past 10+ years, Sorrento has
extensively utilized the G-MABTM Library, one of the largest and
most diverse fully human antibody libraries in the biopharma space,
for discovering potent immuno-oncology and anti-infective
antibodies against over 100 drug targets. In the effort to more
quickly resolve the global COVID-19 crisis, our company has
initiated a rapidly accelerated program for the identification of
potent neutralizing antibodies against SARS-CoV-2 coronavirus
antigens that may be used for either treatment or prophylaxis,”
said Henry Ji, CEO of Sorrento Therapeutics. “We expect our
platform to produce many candidate neutralizing antibodies for
SmartPharm to incorporate into its powerful gene delivery platform.
We look forward to our partnership with SmartPharm as part of our
goal to make a meaningful impact in this truly global effort.”
“As a company founded by infectious disease
physicians, including myself, we are passionate about applying our
novel gene delivery platform to this national and global health
crisis,” said Jose Trevejo CEO of SmartPharm Therapeutics. “Given
the disproportionate mortality in elderly and immune-compromised,
it is critical that we develop novel technologies that will better
protect our populations that are particularly vulnerable to severe
coronavirus infection.”
Unlike classical antigen-based vaccines, which
rely on a patient’s immune system to establish efficacy,
SmartPharm’s gene-encoded antibody platform is designed to directly
neutralize the coronavirus by producing the protective antibody
directly in the muscle of the individual. This gene-encoded
monoclonal antibody delivery platform or Gene MAb™ bypasses the in
vitro antigen production process and potential for vaccine-induced
side-effects in immunized individuals. This is especially important
in susceptible populations like the elderly, where antigen-based
vaccines are significantly less effective for the prevention of
respiratory infections such as influenza or coronavirus. The
companies expect that this novel approach will enable faster
progression to clinic, pending agreement with the FDA.
As part of the collaboration, Sorrento and
SmartPharm expect to develop a gene-encoded antibody or antibodies
that can be administered as a prophylaxis against SARS-CoV-2
infection. Plans for the collaboration may include candidate
development as well as filing of an IND application in the next few
months.
About SmartPharm Therapeutics
SmartPharm Therapeutics Inc. is a privately held, pharmaceutical
company focused on developing next-generation, non-viral gene
therapies for the treatment of serious or rare diseases with the
vision of creating “Biologics from Within.” SmartPharm is currently
developing a novel pipeline of non-viral, gene-encoded proteins for
the treatment of conditions that require biologic therapy such
enzyme replacement and tissue restoration. SmartPharm commenced
operations in 2018 and is headquartered in Cambridge, MA, USA. For
more information, please visit www.smartpharmtx.com.
About Sorrento Therapeutics, Inc.
Sorrento is a clinical stage, antibody-centric,
biopharmaceutical company developing new therapies to turn
malignant cancers into manageable and possibly curable diseases.
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”), intracellular targeting antibodies (“iTAbs”),
antibody-drug conjugates (“ADC”), and clinical stage oncolytic
virus (“Seprehvir®”).
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 ZTlido® (lidocaine topical system)
1.8% for the treatment of post-herpetic neuralgia. Resiniferatoxin
is completing a phase IB trial for intractable pain associated with
cancer and a phase 1B trial in osteoarthritis patients. 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 collaboration and expected scope, terms and timing thereof and
plans related thereto; the expected timing for the initiation and
completion of ongoing studies for coronavirus using antibodies and
data read-outs related thereto; the number of antibodies expected
to be identified; the expected timing for commencing and completing
registrational studies, including any potential for faster
progression to the clinic, and for submitting an IND application
for antibody technology for the treatment and/or prevention for
coronavirus; the potency of any antibodies and ability to provide
efficacy; any potential market for antibody therapy for the
treatment and prevention of coronavirus and Sorrento’s potential
position in the anti-viral immunity industry. 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, the collaboration with
SmartPharm, using gene-encoded antibodies for the treatment and
prevention of coronavirus infections; risks related to seeking
regulatory approvals and conducting and results of clinical trials;
the clinical and commercial success of the treatment and prevention
of coronavirus infections using gene-encoded antibodies; the
viability and success of using gene-encoded antibodies for
treatments in anti-viral therapeutic areas, including coronavirus;
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 related to seeking regulatory approvals and
conducting clinical trials; risks of 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 strategies; risks related to Sorrento’s debt obligations; 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,
2019, 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
Contact: Alexis Nahama, DVM (SVP Corporate Development)
Telephone: 1.858.203.4120
Email:mediarelations@sorrentotherapeutics.com
Sorrento® and the Sorrento logo are registered trademarks of
Sorrento Therapeutics, Inc.COVIDTRAP™, Saving-Life™ and
Improving-Life™ are trademarks of Sorrento Therapeutics,
Inc.ZTlido® and G-MAB™ are trademarks owned by Scilex
Pharmaceuticals Inc. and Sorrento, respectively.Seprehvir®, is a
registered trademark of Virttu Biologics Limited, a
wholly-owned subsidiary of TNK. Therapeutics, Inc. and part of the
group of companies owned by Sorrento Therapeutics, Inc.All other
trademarks are the property of their respective owners.© 2020
Sorrento Therapeutics, Inc. All Rights Reserved.
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From Apr 2024 to May 2024
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From May 2023 to May 2024