Sorrento Therapeutics

Sorrento Therapeutics

A pharmaceutical company developing treatments for cancer and chronic diseases. It was founded in 2006 and is located in San Diego, California.

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.

COVID-19

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 .

Funding

Venture

On June 19, 2009 Sorrento Therapeutics announced raising $2.3 million in venture funding from undisclosed investors.

Venture

On January 11, 2012 Sorrento Therapeutics announced raising $2 million in venture capital funding from undisclosed investors.

Venture

On March 28, 2013 Sorrento Therapeutics announced raising $6.4 million in venture capital funding from undisclosed investors.

Debt financing

On October 22, 2013 Sorrento Therapeutics announced raising $1.9 million in debt financing from undisclosed investors.

Post-IPO Equity

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.

Loan facility

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.

Post-IPO Equity

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.

Timeline

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Sorrento Therapeutics funding round, January 2012
2,000,000
January 11, 2012
3 Results
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People

Name
Role
LinkedIn

Alexis Nahama

VP of Corporate Development & President Ark Animal Health

Bill Farley

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

Jiong Shao

Executive VP & CFO

Mark R. Brunswick

VP of Regulatory Affairs and Quality

Richard B. Alman

Investor

Robert Knight

VP of Clinical Research

Shay Tabani

Employee

Stephen L. Klincewicz

VP of Parmacovigilance and Clinical Operations

William Lees

Employee

Further reading

Title
Author
Link
Type
Date

Sorrento Therapeutics Inc. [SRNE] - The merits and potential risks: A tempered look at SRNE | The Dwinnex

Ulysses Smith

Web

April 17, 2020

Sorrento Therapeutics to develop cellular vaccine for Covid-19

Web

March 26, 2020

Documentaries, videos and podcasts

Title
Date
Link

Sorrento Therapeutics CEO: Human trials for Covid-19 drug are 'two to three months away'

Jun 8, 2020

Sorrento Therapeutics developing new treatments for cancer and associated pain

November 5, 2014

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
June 5, 2020
BioSpace
Sorrento COVIDTRAPTM(STI-4398) Demonstrates in Preclinical Studies its Ability to Completely Inhibit SARS-CoV-2 Viral Infection In Vitro - read this article along with other careers information, tips and advice on BioSpace
BioSpace
May 26, 2020
BioSpace
Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced it has received clearance from the U.S. Food and Drug Administration (FDA) for its investigational new drug (IND) application for STI-6129, a CD38-targeting antibody drug conjugate (ADC). STI-6129 utilizes several technology platforms that are under development by Sorrento Therapeutics, including a CD38 specific antibody identified from its fully human G-MABTM antibody library, its
Mark Terry
May 22, 2020
BioSpace
Henry Li, Sorrento's co-founder, director, president and chief executive officer, did a follow-up interview with BioSpace to discuss the news and speculation surrounding it.
May 8, 2020
BioSpace
Sorrento And Mount Sinai Health System To Jointly Develop COVI-SHIELDTM Antibody Therapy Targeting SARS-CoV-2 Infection (COVID-19) - read this article along with other careers information, tips and advice on BioSpace
Mark Terry
May 8, 2020
BioSpace
The partnership is aimed at creating antibody products that could act as a "protective shield" against infection by the virus that causes COVID-19, SARS-CoV-2.
Arlene Weintraub
May 8, 2020
FierceBiotech
Sorrento Therapeutics is jumping into the race to develop therapies against COVID-19, teaming up with Mount Sinai to develop a cocktail of antibodies from the blood of 15,000 recovered patients. The company's scientists believe their multipronged therapy will sidestep risks such as treatment resistance.
Research and Markets
Invalid Date
www.prnewswire.com:443
DUBLIN, Feb. 14, 2019 /PRNewswire/ -- The "Global CAR-T Cell Therapy Market - Market Size, Forecasts, Trials & Trends" report has been added to...

References

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