Sorrento Therapeutics is a publicly owned, anti-body centric, clinical stage biopharmaceutical company based in San Diego, California. It develops new treatments for cancer, inflammation, and autoimmune disease. The company aims to turn malignant cancers into manageable and possibly curable disease.
Sorrento's immuno-oncology (I-O) portfolio comprises of a wide array of assets, including a broad fully human antibody library (G-MAB), clinical stage chimeric antigen receptor-T cells (CAR-T), intracellular targeting antibodies (iTAbs), antibody drug conjugates (ADC), and an oncolytic virus (Seprehvir).
Under the I-O category, the company's cross-portfolio asset combination therapies include:
- CD38 CAR-T -- IND enabling for multiple myeloma
- CEA CAR-T -- Phase 1 clinical trials for metastatic liver tumors
- CD38 ADC -- IND enabling
Seprehvir is also under the I-O program and is in the Phase 1 of clinical trials for solid tumors, including glioblastoma, mesothelioma, melanoma, head and neck cancer, pediatric sarcomas, and pediatric neuroblastomas.
Within the pain management category, Sorrento's ZTlido is a lidocaine topical system which is available in the market as of October 2018. They are also developing RTX (resiniferatoxin), a first-class (TRPV1 agonist) non-opioid pain management molecule. As of December 2018, several administration routs are in various stages of Phase 1 trials for terminal cancer pain as well as moderate to severe osteoarthritis pain.
During the COVID-19 pandemic, the company developed a cellular vaccine for the virus that is still in pre-clinical trials. It also formed partnerships with other biotechnology companies, including SmartPharm Therapeutics and Mabpharm, to collaborate on the development, manufacturing, and distribution .
On June 19, 2009 Sorrento Therapeutics announced raising $2.3 million in venture funding from undisclosed investors.
On January 11, 2012 Sorrento Therapeutics announced raising $2 million in venture capital funding from undisclosed investors.
On March 28, 2013 Sorrento Therapeutics announced raising $6.4 million in venture capital funding from undisclosed investors.
On October 22, 2013 Sorrento Therapeutics announced raising $1.9 million in debt financing from undisclosed investors.
On April 11, 2016 Sorrento Therapeutics announced raising $150 million in post-IPO equity from Ally Bridge Group. The funding allowed Ally Bridge Group to buy new shares at a share price of $5.55 and warrants to buy common stock in the company at an exercise share price of $8.50.
On November 28, 2016 Sorrento Therapeutics announced raising $75 million in the form of a loan facility from Hercules Capital which will be issues in three tranches of $50 million, $10 million, and $15 million. The loan facility agreement is set to mature on December 1, 2020.
On October 9, 2019 Sorrento Therapeutics announced raising approximately $22.3 million in post-IPO equity from the sale of common stock and warrants at a combined purchase price of $2.30 per share. The company plans on using the funding primarily for continuing their clinical development of its RTX and CD38 CAR-T programs, and covering general research and development costs.
Sorrento Therapeutics raises a $2,300,000 venture round.
Sorrento Therapeutics raises a $6,400,000 venture round.
Sorrento Therapeutics raises a $2,000,000 venture round.
VP of Corporate Development & President Ark Animal Health
VP of Sales and Business Development
Deborah H. Telman
Senior VP & General Counsel
Dr. Gunnar F. Kaufmann
Senior VP of Immunotherapy & Head of Research and Global Partnerships
Dr. Henry Ji
Chairman, President, & CEO
Dr. Hui Li
VP of Business Development and GM of China Operations
Jerome B. Zeldis
Chief Medical Officer & President of Clinical Research, Medical Affairs and Regulatory
Executive VP & CFO
Mark R. Brunswick
VP of Regulatory Affairs and Quality
Richard B. Alman
VP of Clinical Research
Stephen L. Klincewicz
VP of Parmacovigilance and Clinical Operations
Sorrento Therapeutics Inc. [SRNE] - The merits and potential risks: A tempered look at SRNE | The Dwinnex
April 17, 2020
Sorrento Therapeutics to develop cellular vaccine for Covid-19
March 26, 2020
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