Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento"), announced
it has entered into a research testing agreement with The
University of Texas Medical Branch at Galveston for the preclinical
testing of Sorrento’s COVID-19 therapeutic product candidates. Dr.
Slobodan Paessler, DVM, Ph.D., John S. Dunn Distinguished Chair in
Biodefense and scientific director of the Animal Biosafety
Laboratory 3 at the Galveston National Laboratory, will be
supervising the research.
The work will be performed in Dr. Paessler’s laboratory at the
University of Texas Medical Branch (UTMB), one of only two maximum
containment laboratories on a university campus in the United
States and one of just a few such Biosafety Level 4 (BSL4)
laboratories currently operating in the U.S. Dr. Paessler
specializes in viral pathogenesis and therapeutic agent
development, and he and Dr. Cheng Huang’s laboratory most recently
obtained a COVID-19 viral isolate and have established the
infection cell model for the SARS-CoV-2 virus.
Dr. Henry Ji, CEO and Chairman of Sorrento, stated, “Dr.
Paessler is a world-renowned expert in infectious diseases and the
development of animal models to test new therapeutic candidates,
and his team has direct access to one of the few high containment
laboratories in the country. We are committed to advancing
Sorrento’s proprietary COVID-19 product candidates as quickly and
safely as possible with the hope that they can offer effective,
life-saving care to patients and healthcare providers
worldwide.”
Sorrento is currently conducting preclinical development of
multiple therapeutic candidates to treat COVID-19 across its
proprietary platforms, including natural killer (NK) cell
therapies, neutralizing antibodies (NAbs) and soluble recombinant
fusion protein traps (COVIDTRAPTM) to potentially inhibit the
binding of SARS-CoV-2’s spike protein with host ACE2 receptors,
thereby potentially preventing viral cell entry. SARS-CoV-2 is the
virus that causes COVID-19.
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 is also developing potential
coronavirus antiviral therapies, including COVIDTRAP™, ACE-MABTM
and COVI-CellTM.
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
About the University of Texas Medical Branch
(UTMB)
Texas' first academic health center opened its doors in 1891 and
today has four campuses, four health sciences
schools, four institutes for advanced study, a research
enterprise that includes one of only two national laboratories
dedicated to the safe study of infectious threats to human health,
a Level 1 Trauma Center and a health system offering a full range
of primary and specialized medical services throughout the Texas
Gulf Coast region. UTMB is an institution in the University of
Texas System and a member of the Texas Medical Center.
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 preclinical testing of
Sorrento’s COVID-19 therapeutic product candidates; the safety and
efficacy of Sorrento’s COVID-19 therapeutic product candidates; the
therapeutic potential of Sorrento’s COVID-19 therapeutic product
candidates for SARS-CoV-2 and COVID-19 disease; and Sorrento’s
potential position in the vaccine 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 risks related to conducting pre-clinical trials and
seeking IND regulatory approval for Sorrento’s COVID-19 therapeutic
product candidates; conducting and receiving results of clinical
trials for Sorrento’s COVID-19 therapeutic product candidates; the
clinical and commercial success of Sorrento’s COVID-19 therapeutic
product candidates against SARS-CoV-2 virus infections; the
viability and success of using Sorrento’s COVID-19 therapeutic
product candidates in anti-viral therapeutic areas, including
coronaviruses; 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 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 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. G-MAB™, COVIDTRAP™, ACE-MABTM, I-CellTM
and COVI-CellTM are trademarks of Sorrento Therapeutics, Inc.
ZTlido® is a trademark owned by Scilex Pharmaceuticals Inc.
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.
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