Sorrento Therapeutics Inc (NASDAQ:SRNE) Signs A Deal To Acquire Exclusive Rights To Abivertinib Of ASEA In All Regions Outside China

Sorrento Therapeutics Inc (NASDAQ:SRNE) has entered a pact to clinch exclusive rights to ASEA’s Abivertinib in all territories outside China.

Innovative small molecule tyrosine kinase inhibitor

Innovative small molecule tyrosine kinase inhibitor – Abivertinib targets mutant forms of the Bruton’s tyrosine kinase (BTK) and epidermal growth factor receptor (EGFR). The drug has been used for the treatment of over 600 patients, who suffer from B cell malignancies and non-small cell lung cancer. In the clinical trial conducted in China, ASEA has administered up to 300 mg of the drug in phase 1 study on patients with B cell malignancies. According to results obtained from separate studies, the drug has demonstrated favorable tolerability, safety, and efficiency in patients suffering from refractory/ relapsed B-Cell malignancies or non-small cell lung cancer.

Impressive reduction in tumors

According to the results obtained from an interim analysis of 209patients in 2019, 90% of the patients have experienced a significant reduction in tumor size. Around 109 patients in the trial received a partial response,the progression-free survival is 7.5 months.

Sorrento develops Covid-19 antibody

On May 15, 2020, Sorrento said its anti-SARS-Cov-2 antibody has inhibited COVID-19 infection by 100% in an in vitro infection experiment. The company will continue the experiment to get approval for the treatment of COVID-19. Its stock surged by 200% on May 21 2020, because investor’s confidence has improved in the potential of Sorrento’s drug.

According to the Chief Executive Officer and founder of Sorrento, Dr. Henry JI, the antibody neutralizes the coronavirus and prevents the spread of infection in the patient’s body. Sorrento expects to submit the package for FDA acceptance in the next two to three months and launch a clinical trial. The company will market this product on receiving FDA approval.

According to Raghuram Selvaraju, an analyst at H.C. Wainright, Sorrento is evaluating COVI-GUARD – STI-1499 to block the entry of coronavirus into healthy cells in humans. The company has developed COVIDTRAP ACE2-Fc protein that blocks the virus’s entry into healthy cells by binding it to the S1 domain of the spike protein. Sorrento addresses unmet medical needs through developing and delivering clinically proven therapies to the patients.