SAN DIEGO, Oct. 10, 2013 /PRNewswire/ -- Sorrento
Therapeutics, Inc. (OTC QB: SRNE; Sorrento) announced today that it
has acquired Sherrington Pharmaceuticals, Inc. (Sherrington), a
privately-held company focused on the development of a chronic pain
treatment for end-stage cancer patients and other severe pain
indications.
Sherrington's drug candidate, known as Resiniferatoxin, is a
non-opiate, ultra potent and selective agonist of the TRPV-1
receptor. A single injection of the compound is expected to
permanently block the transmission of pain signals without
impairing the mental or physical faculties of the patient, common
side effects of opiate treatment. Resiniferatoxin was recently
highlighted in the July 2013 issue of
Scientific American1. Resiniferatoxin is currently
in an investigator-sponsored Phase 1/2 clinical trial at the
National Institutes of Health (NIH) under a company sponsored
Collaborative Research and Development Agreement (CRADA). Sorrento
plans to initiate additional clinical studies to rapidly advance
the drug.
"Sorrento's drug development pipeline now includes an additional
clinical stage program to go along with its late stage program
Cynviloq™ and robust pipeline of fully human therapeutic
antibodies," said Henry Ji, Ph.D.,
President and Chief Executive Officer of Sorrento. "Resiniferatoxin
is a great fit with our mission to treat cancer patients with
targeted and selective treatments. End-stage cancer pain is a
particularly high unmet medical need and the early data with
Resiniferatoxin are very encouraging."
About Sorrento Therapeutics, Inc.
Sorrento Therapeutics, Inc. is a publicly-traded,
development-stage biopharmaceutical company engaged in the
acquisition, discovery, development and commercialization of
proprietary drug therapeutics for addressing significant unmet
medical needs in the Unites States, Europe and additional international markets.
Sorrento's therapeutic focus is oncology, but it is also developing
therapeutic products for inflammation, metabolic, and infectious
diseases. Sorrento's proprietary G-MAB® fully-human antibody
library platform was designed to facilitate the rapid
identification and isolation of highly specific antibody
therapeutics. In addition, Sorrento is developing proprietary ADCs
as well as AfDCs combining its G-MAB® antibodies with anti-tumor
agents.
More information is available at
www.sorrentotherapeutics.com.
Forward-Looking Statements
This press release contains forward-looking statements subject
to risks and uncertainties that could cause actual results to
differ materially from those projected. Words such as "assumes,"
"plans," "believes," "expects," "anticipates," and "will," and
similar expressions, are intended to identify forward-looking
statements. Forward-looking statements include statements about the
preclinical and clinical development of Sorrento's human antibody
therapeutics. All such forward-looking statements are based on
Sorrento's current beliefs and expectations, and should not be
regarded as a representation by Sorrento that any of its plans will
be achieved. Actual results may differ materially from those set
forth in this press release due to the risks and uncertainties
inherent in Sorrento's businesses; the potential for approval and
commercial success of Cynviloq or for further development of
Resiniferatoxin; the scope and validity of patent protection for
Sorrento's platform technologies, and the risk that the development
or commercialization of product candidates may infringe the
intellectual property rights of others; the potential that Sorrento
may require substantial additional funding in order to obtain
regulatory approval for and commercialize Sorrento's proprietary
G-MAB® fully-human antibody library platform technologies or
product candidates; and additional risks set forth in Sorrento's
filings with the Securities and Exchange Commission. These
forward-looking statements represent Sorrento Therapeutics'
judgment as of the date of this release. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. All forward-looking statements
are qualified in their entirety by this cautionary statement and
Sorrento undertakes no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
This caution is made under the safe harbor provisions of Section
21E of the Private Securities Litigation Reform Act of
1995.
1
http://www.scientificamerican.com/article.cfm?id=prickly-painkiller
SOURCE Sorrento Therapeutics, Inc.