SORRENTO TO PROVIDE MANUFACTURING SUPPORT TO CELULARITY AS CYNK-001 NK CELL TRIAL FOR COVID-19 BEGINS ENROLLING PATIENTS
April 02 2020 - 12:33PM
Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") announced it
has initiated the next phase of its collaboration with Celularity,
Inc., a Warren, New Jersey, based clinical-stage cell therapeutics
company delivering transformative allogeneic cellular therapies
derived from the postpartum human placenta. On April 2, 2020,
Celularity announced that the U.S. Food and Drug Administration
(FDA) cleared its Investigational New Drug (IND) application for
the use of its proprietary CYNK-001 in adults with COVID-19.
Celularity also announced that it will immediately commence a Phase
I/II clinical study including up to 86 patients with COVID-19.
The collaboration between Sorrento and
Celularity reflects the longstanding relationship between the two
companies dating to Celularity’s inception. Celularity is preparing
to launch CYNK-001 manufacturing at its new purpose-built cGMP/cGTP
manufacturing facility in Florham Park, New Jersey. Sorrento will
make available to Celularity current existing capacity in
Sorrento’s state-of-the-art cGMP cell therapy manufacturing
facilities in San Diego, California. The addition of Sorrento’s
cGMP cell therapy manufacturing capacity is expected to facilitate
the rapid scale-up and sustained production of Celularity’s novel
CYNK-001 cell therapy for use in its Phase I/II clinical study in
COVID-19 infected adults, as well as its existing clinical programs
in acute myeloid leukemia (AML), multiple myeloma (MM) and
glioblastoma multiforme (GBM). “We are confident that our
strategic relationship with Sorrento will help assure our ability
to meet the scale requirements for our efforts in COVID-19,” said
Celularity CEO Robert Hariri, M.D., Ph.D.
“We congratulate Celularity’s rapid progress in
moving CYNK-001 from immune-oncology applications to a COVID-19
clinical trial since our first announcement of the collaboration on
January 29, 2020. We will do whatever we can to assist Celularity
in its fight against COVID-19 pandemic.”
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
Forward-Looking StatementsThis
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; the
expected timing for commencement of a Phase I/II clinical study for
CYNK-001 in adults with COVID-19 and the expected number of
patients in the Phase I/II clinical study; the timing for scale-up
and production of CYNK-001; the steps that Sorrento is expected to
take to assist Celularity; any potential market for Natural Killer
(NK) cells for the treatment and prevention of COVID-19 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
Celularity, using NK cells for the treatment and prevention of
COVID-19 infections; risks related to seeking regulatory approvals
and conducting and receiving results of clinical trials; the
clinical and commercial success of the treatment and prevention of
COVID-19 infections using NK cells; the viability and success of
using NK cells for treatments in anti-viral therapeutic areas,
including COVID-19; 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 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 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.
About CelularityCelularity,
headquartered in Warren, N.J., is a clinical-stage cell
therapeutics company delivering transformative allogeneic cellular
therapies derived from the postpartum human placenta. Using
proprietary technology in combination with its IMPACT™ platform,
Celularity is the only company harnessing the purity and
versatility of placental-derived cells to develop and manufacture
innovative and highly scalable off-the-shelf treatments for
patients with cancer, inflammatory and age-related diseases. To
learn more, please visit www.celularity.com.
Media and Investor
RelationsContact: Alexis Nahama (SVP Corporate
Development)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.
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From Apr 2023 to Apr 2024