Sorrento Therapeutics acquires Majority Ownership

Sorrento Announces That It Has Acquired A Majority Ownership In Diagnostic Manufacturer Zhengzhou Fortune Bioscience In Response To Increasing Worldwide Demand For Covistix™

02/17/22, 6:05 PM

Location

san diego

Industry

biotechnology

science and engineering

health care

Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced the acquisition of a majority ownership of Zhengzhou Fortune Bioscience Co., Ltd. (“FortuneBio”). This acquisition is in response to dramatically increasing demands worldwide and planned product build-up in anticipation of potential additional approvals for Sorrento’s COVISTIXTM COVID-19 VIRUS Rapid Antigen Detection Test.

Company Info

Company

Sorrento Therapeutics

Location

San Diego, California, United States

Company info

Sorrento Therapeutics, Inc. is a clinical stage and commercial biopharmaceutical company focused on delivering innovative and clinically meaningful therapies to address unmet medical needs. Our vision is to leverage our proprietary G-MAB™ library in conjunction with a proprietary targeted delivery modalities to generate the next generation of therapeutics for treating cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. These modalities include proprietary chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy (DAR-T™), antibody-drug conjugates (ADCs), oncolytic virus (Seprehvec™), lymphatic drug targeting (SOFUSA®), as well as bispecific antibody approaches. We are additionally developing pain management solutions, including our clinical candidates resiniferatoxin (RTX) and SEMDEXA™. In response to the global SARS-CoV-2 (“COVID-19”) pandemic, we are also developing and conducting clinical studies for potential coronavirus antiviral therapies and vaccines, including Abivertinib, COVI-MSC™, COVI-AMG™, COVIDROPS™, and COVI SHIELD™, and diagnostic test solutions, such as COVISTIX™ and COVITRACK™.

Company news

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Thu, 02 Feb 2023 08:00:00 GMT

Scilex Holding Company Announces that its Majority - GlobeNewswire

Thu, 09 Dec 2021 08:00:00 GMT

Scilex Holding Company, a Sorrento Therapeutics, Inc. - GlobeNewswire

Mon, 14 Sep 2020 07:00:00 GMT

Sorrento Secures Exclusive License From Mayo Clinic for - GlobeNewswire

Wed, 29 Jan 2020 08:00:00 GMT

Sorrento and Celularity to Initiate Emergency Allogeneic - GlobeNewswire

Thu, 21 May 2020 07:00:00 GMT

Sorrento Enters Into Binding Term Sheet to Acquire Exclusive Rights to Abivertinib with Completed Registrational Trial Data in Non-Small Cell Lung Cancer - GlobeNewswire

Thu, 20 Aug 2020 07:00:00 GMT

Sorrento Enters Into Merger Agreement to Acquire SmartPharm - GlobeNewswire

Wed, 21 Jul 2021 07:00:00 GMT

Sorrento Announces That Its Subsidiary Levena and Its - GlobeNewswire

Tue, 12 Feb 2019 08:00:00 GMT

Yuhan Corp and Sorrento Therapeutics Announce Closing of a - GlobeNewswire

Tue, 06 Jul 2021 07:00:00 GMT

FDA Clears Sorrento Phase 2 Trial Of Non-Opioid Product - GlobeNewswire

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