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Sorrento Therapeutics, Inc. Receives Court Approval For $75 Million Financing In Chapter 11 Case

PRIVATEFeb 21, 2023

Amount Raised

$75 Million

Round Type

Funding Round

San DiegoBiotechnologyHealth CareScience And Engineering

Investors

JMB Capital Partners

Description

Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas granted interim approval of Sorrento's $75 million debtor-in-possession financing from JMB Capital Partners, in connection with Sorrento's chapter 11 case, which was filed on February 13, 2023.

Quick answer

Sorrento Therapeutics raised $75 Million in a Funding Round round, dated February 21, 2023. Investors: JMB Capital Partners. Sorrento Therapeutics is based in San Diego, California, United States.

How much did Sorrento Therapeutics raise?
Sorrento Therapeutics raised $75 Million in a Funding Round round on February 21, 2023.
Who invested in Sorrento Therapeutics?
JMB Capital Partners is named as investors in this round.
What does Sorrento Therapeutics do?
Sorrento Therapeutics, Inc. is a clinical stage and commercial biopharmaceutical company focused on delivering innovative and clinically meaningful therapies to address unmet medical needs.
Where is Sorrento Therapeutics based and how big is it?
Sorrento Therapeutics is based in San Diego, California, United States.
Who are the decision-makers at Sorrento Therapeutics?
Fundz holds 1 contact at Sorrento Therapeutics, including the Chairman, President and CEO. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Science And Engineering and Biotechnology around the same time

Companies in the same sectors as Sorrento Therapeutics that raised within 45 days of this round, from Fundz verified event records.

  • Geneos Therapeutics raised $5M (Series A) on March 31, 2023.
  • 22nd Century raised $21M (Debt Financing) on March 3, 2023.
  • Aprea Therapeutics raised an undisclosed amount (Funding Round) on February 28, 2023.
  • Deka Biosciences, Inc. raised $30M on February 6, 2023.
  • Garuda Therapeutics raised $62M on January 23, 2023.
  • Iaso Bio raised $75M (Series C) on January 18, 2023.

Who to call at Sorrento Therapeutics, and when

A new round usually means Sorrento Therapeutics is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Sorrento Therapeutics

Location

San Diego, California, United States

About

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™.

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Related People

1 contact
Verified contactsHenry J., Chairman, President and CEO hiddenSee plans and pricing
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