Joint Ventures for Untapped Research Area - Report on Sorrento Therapeutics

Jul 22, 2015, 09:10 ET from

NEW YORK, July 22, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Sorrento Therapeutics, Inc. (NASDAQ: SRNE). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL:

Highlights from our SRNE Report include:

New Joint Venture to Focus on Untapped Research Potential -- On July 9, 2015, Sorrento Therapeutics, Inc. - which has been recently added to the Russell 2000® Small Cap, Russell 3000®, and Russell Global® Indexes and NantBioScience, Inc., a subsidiary of NantWorks, LLC, announced that they have entered into a joint venture(JV) agreement. As per the Company, the JV will focus on the development of 'first-in-class' small molecules against targets that were avoided in the pharmaceutical industry and which may address important drivers of cancer growth including cancer stem cells. ‎Sorrento noted that it will contribute key small molecule programs (lead inhibitors of the proto-oncogenes c-Myc, and the master metabolism regulator HIF-1 alpha, and an inducer of the tumor suppressor cytokine TRAIL) to the joint venture which will be 60% owned by NantBioScience and 40% owned by Sorrento, and thus funded accordingly.

Management Comments - Commenting on the development President and CEO Dr. Henry Ji, said, "Sorrento's mission is to expeditiously and efficiently bring innovative therapies to cancer patients in need. This partnership, focused on the development of our innovative small molecules, will allow us to realize Sorrento's vision, align our resources on our immuno-oncology and cell therapy assets, and put Sorrento at the forefront of cancer therapy."

Updates from Subsidiaries - Earlier on June 24, 2015, Sorrento informed that its subsidiary ARK Animal Health, Inc., was granted a Minor Use/Minor Species (MUMS) Drug Designation for ARK-001 by the FDA. As per Sorrento, ARK-001 is being developed for the control of pain associated with bone cancer in dogs. Sorrento highlighted that the MUMS Drug Designation grants ARK Animal Health seven years of exclusive market rights and makes ARK-001 eligible for conditional approval. The Company added that ARK intends to file for a CNADA (Conditional New Animal Drug Application) under the MUMS pathway by using data from a clinical study in 53 dogs with osteosarcoma and other bone cancers treated with a single intrathecal dose of RTX at the University of Pennsylvania.

To find out how this influences our rating on Sorrento Therapeutics, Inc. read the full report in its entirety here:

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