Sorrento Mexico and the Mexican Government's National Institute of Genomic Medicine (INMEGEN) are conducting a Memorandum of Understanding (MOU) for rapid clinical development of COVID-19 diagnostics

  • After COVI-STIX ™ (COVID-19 VIRUS RAPID ANTIGEN DETECTION TEST) received the Emergency Use Authorization (EUA) from the Mexican Comisión Federal para la Protección contra Riesgos Sanitarios (COFEPRIS), Sorrento and the Mexican INMEGEN (“Instituto Nacional de Medicina Genomica ”)) held meetings to explore collaboration.
  • Sorrento Therapeutics Mexico (“Sorrento Mexico”) and INMEGEN have signed a letter of intent to further collaborate in the clinical development of a broad pipeline of COVID products, including diagnostics, multivalent mRNA-based vaccines and therapeutics. Sorrento offers its most comprehensive portfolios and a “one-stop-shop” of potential solutions for governments interested in a multimodal “detect and treat” approach to the COVID-19 pandemic.
  • Sorrento Mexico plans to establish local clinical research and development capabilities at INMEGEN facilities and staff in Mexico City and will work closely with Mexican hospitals and clinical facilities on clinical protocols, regulatory registration and approval requirements for COVID-19 product development.

SAN DIEGO, Aug 03, 2021 (GLOBE NEWSWIRE) – Sorrento Therapeutics, Inc., Inc. (Nasdaq: SRNE, “Sorrento”) today announced the entry of its subsidiary Sorrento Therapeutics Mexico (“Sorrento Mexico”) into a MOU agreement with the National Institute of Genomic Medicine INMEGEN (“Instituto National de Medicine Genomica”) to collaborate on the development, testing and support of several COVID-19-related products that Sorrento plans to commercialize in Mexico.

Sorrento Mexico and INMEGEN will expand their collaboration to include additional Sorrento COVID pipeline products that include diagnostics, therapeutics and multivalent vaccines, including the following product candidates:

  • COVITRACK ™: Diagnostic test for the detection of COVID-19 antibodies for vaccinated people;
  • STI-2020 (COVI-AMG ™): Affinity-matured neutralizing antibody against SARS-CoV-2 for outpatient COVID patients;
  • STI-2099 (COVIDROPS ™): Intranasal Neutralizing Antibody Version of COVI-AMG for Newly Diagnosed COVID Patients;
  • COVISHIELD ™: cocktail of neutralizing antibodies against worrisome variants of SARS-CoV-2;
  • STI-5656 (Abivertinib): BTK inhibitor for the treatment of acute respiratory distress syndrome (ARDS) in hospitalized COVID patients;
  • STI-8282 (COVI-MSC ™): Allogeneic Mesenchymal Stem Cells for the Treatment of COVID-Associated ARDS in Severe COVID Patients; and
  • Multivalent mRNA vaccines: mRNA-based multivariate vaccines to protect against the SARS-CoV-2 virus and the worrisome alpha, beta, delta and gamma variants.

Sorrento Mexico plans to set up a local research laboratory at INMEGEN’s facilities to ensure close collaboration between the INMEGEN and Sorrento teams for testing, clinical trials and the development of COVID-related products.

“We are pleased to be working closely with INMEGEN and intend to use Sorrento Mexico as the gateway to all Latin American countries for our innovative COVID diagnostic, vaccine and therapeutic product candidates,” said Henry Ji, Ph.D., Chairman and CEO of Sorrento Therapeutics.

About Sorrento Therapeutics, Inc.

Sorrento is an antibody-focused, clinical-stage biopharmaceutical company developing new therapies to treat cancer and COVID-19. Sorrento’s multimodal, multi-pronged approach to fighting cancer is enabled by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (“G-MAB ™ Library”), clinical-stage immunocellular therapies (“CAR-T”, “DAR-T ™”), antibody-drug conjugates (“ADCs”) and oncolytic viruses in the clinical stage (“Seprehvir ™”). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVIGUARD ™, COVI-AMG ™, COVISHIELD ™, Gene-MAb ™, COVI-MSC ™ and COVIDROPS ™; and diagnostic test solutions, including COVITRACK ™, COVI-STIX ™, and COVITRACE ™.

Sorrento’s commitment to life-enhancing therapies for patients is also reflected in our efforts to provide a world-class (TRPV1 agonist) low molecular weight non-opioid pain reliever resiniferatoxin (“RTX”) and SP-102 (10 mg, Dexamethasone Sodium Phosphate Viscous Gel) ( SEMDEXA ™), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain or sciatica and to commercialize ZTlido® (topical lidocaine system) 1.8% for the treatment of post-therapeutic neuralgia. RTX has completed a Phase IB study in persistent pain-related cancer and a Phase 1 B study in osteoarthritis patients. SEMDEXA is in a pivotal phase 3 study for the treatment of lumbosacral radicular pain or sciatica. ZTlido® was approved by the FDA on February 28, 2018.

More information is available at www.sorrentotherapeutics.com.

Forward-Looking Statements

This press release and any statements made for and during any presentation or meeting contain forward-looking statements regarding Sorrento Therapeutics, Inc., subject to and subject to the safe harbor of Section 21E of the Private Securities Litigation Reform Act of 1995 Risks and uncertainties This could mean that the actual results differ materially from those forecast. Forward-looking statements include statements regarding Sorrento’s expectations regarding the collaboration between INMEGEN and Sorrento to conduct clinical development activities for Sorrento’s COVID-19 related diagnostics, therapeutics and vaccine product candidates in Mexico, including testing, clinical trials and product development; the establishment of clinical research and development capabilities within INMEGEN; the plan to work with Mexican hospitals and clinical facilities on clinical and regulatory activities; and Sorrento’s potential position in the diagnostics, therapy, and vaccine industries. 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 the technologies and prospects of Sorrento and its subsidiaries, affiliates, and Partners and collaborations with partners, including, but not limited to, risks associated with filing for regulatory approval for Sorrento’s COVID-19 products in Mexico and Latin America; Clinical development risks, including risks related to the progress, timing, costs and results of clinical trials and product development programs; Risk of difficulty or delays in obtaining regulatory approvals; Risks that clinical trial results may not achieve all or one or more of the endpoints of a clinical trial and that data generated from such trials may not support approval or approval; Risks that previous test, study and study results may not be replicated in future studies and studies; Risks in the manufacture and supply of pharmaceuticals; Risks related to using the expertise of its employees, subsidiaries, affiliates and partners to assist Sorrento in executing its therapeutic antibody product candidate strategies; Risks related to the global impact of COVID-19; and other risks 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, 2020 and subsequent quarterly reports Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set out 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 press release, and we assume no obligation to update any forward-looking statements in this press release unless required by law.

Contact for media and investor relations

Alexis Nahama, DVM (SVP Corporate Development)
Email: [email protected]

Sorrento® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.

G-MAB ™, DAR-T ™, SOFUSA ™, COVIGUARD ™, COVI-AMG ™, COVISHIELD ™, Gene-MAb ™, COVIDROPS ™, COVI-MSC ™, COVITRACK ™, COVITRACE ™ and COVI-STIX ™ are trademarks of Sorrento Therapeutics, Inc.

SEMDEXA ™ is a trademark of Semnur Pharmaceuticals, Inc.

ZTlido® is a registered trademark of Scilex Pharmaceuticals Inc.

All other trademarks are property of their respective owners.

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