Sorrento Mexico and the National Institute of Genomic Medicine (INMEGEN) of Mexico Government Execute Memorandum of Understanding (MOU) for Rapid Clinical Development of COVID-19 Diagnostics, Therapeutics and Multivalent mRNA-Based Vaccines Against SARS...
03 August 2021 - 11:00PM
Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today
announced that its subsidiary company, Sorrento Therapeutics Mexico
(“Sorrento Mexico”), has entered into an MOU agreement with the
National Institute of Genomic Medicine INMEGEN (“Instituto National
de Medicine Genomica”) to cooperate in the development, testing and
support of multiple COVID-19 related products Sorrento plans to
commercialize in Mexico.
Sorrento Mexico and INMEGEN will expand its
collaboration to include additional Sorrento COVID pipeline
products spanning diagnostics, therapeutics and multivalent
vaccines, including the following product candidates:
- COVITRACK™:
COVID-19 antibody detection diagnostic test for vaccinated
people;
- STI-2020
(COVI-AMG™): Affinity matured neutralizing antibody against
SARS-CoV-2 for outpatient COVID patients;
- STI-2099
(COVIDROPS™): Intranasal neutralizing antibody version of COVI-AMG
for newly diagnosed COVID patients;
- COVISHIELD™:
Cocktail of neutralizing antibodies against variants of concern of
SARS-CoV-2;
- STI-5656
(Abivertinib): BTK inhibitor for the treatment of acute respiratory
distress syndrome (ARDS) in hospitalized COVID patients;
- STI-8282
(COVI-MSC™): Allogeneic mesenchymal stem cells for the treatment of
COVID-associated ARDS in severe COVID patients; and
- Multivalent
mRNA Vaccines: mRNA-based multivariant vaccines protecting against
SARS-CoV-2 virus, Alpha, Beta, Delta and Gamma variants of
concern.
Sorrento Mexico plans to establish a local
research laboratory within INMEGEN’s facilities to ensure close
collaboration between the INMEGEN and Sorrento teams for testing,
clinical trials and development of COVID related products.
“We are excited about our close collaboration
with INMEGEN and intend to have Sorrento Mexico as a gateway to all
Latin American countries for our innovative COVID diagnostic,
vaccine and therapeutic product candidates,” said Henry Ji, Ph.D.,
Chairman and CEO of Sorrento Therapeutics.
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™, COVI-STIX™ 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 expectations regarding the collaboration
between INMEGEN and Sorrento to conduct clinical development
activities for Sorrento’s COVID-19 related diagnostics,
therapeutics and vaccine product candidates in Mexico, including
testing, clinical trials and product development; the installation
of clinical research and development capabilities within INMEGEN;
the plan to work with Mexican hospitals and clinical institutions
on clinical and regulatory activities; and Sorrento’s potential
position in the diagnostics, therapeutics and vaccine 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 seeking
regulatory approval for Sorrento’s COVID-19 products in Mexico and
Latin America; 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™, Gene-MAb™, COVIDROPS™, COVI-MSC™, COVITRACK™,
COVITRACE™ and COVI-STIX™ 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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