Sorrento Therapeutics Inc. (NASDAQ: SRNE) and Sorrento Mexico have announced that COFEPRIS has granted Sorrento Mexico EUA approval to import, distribute and market COVISTIX tests in Mexico.
Sorrento to market COVISTIX in Mexico
COVISTIX is a lateral-flow fast antigen test based on platinum colloid to identify SARS-CoV-2 infections, including the Delta and Omicron forms of concern. With COVI-19 cases spiking in Mexico, the company’s Mexican subsidiary won its first tender award this year from the Mexico City government for the tests that were delivered within a week of tender purchase.
Last week, Mexico exceeded 300,000 test-confirmed COVID-19 deaths; yet, so minimal testing is performed in the 126 million-strong country that a government analysis of death records puts the true toll at around 460,000. The virus outbreak was largely to blame for the cancellation of 260 flights from January 6 to January 10, when airline employees became affected and were forced to isolate, resulting in manpower shortages.
Sorrento CEO and president Dr. Henry Ki stated, “The situation in Mexico is quite serious, and Sorrento and Sorrento Mexico are doing everything we can to increase testing capacity for the people of Mexico.”
Sorrento Mexico has put a purchase order (PO) for Ten million COVISTIX testing kits to be delivered in February, after confirmation of the EUA clearance on January 20, 2022. Also, Sorrento Mexico expects that COVISTIX testing demand in Mexico will be beyond the existing supply.
Sorrento is developing antiviral therapies for coronaviruses
Besides developing the COVISTIX test, the company also works on potential antiviral vaccines and treatment against coronaviruses, including COVI-AMG, Abivertinib, COVISHIELD, COVI-DROPS, COVI-MSC, and diagnostic test solutions such as COVISTIX and COVITRACK.
Also, the company is committed to developing life enhancing therapies for patients, evidenced by efforts to advance a non-opioid pain management small molecule RTX (resiniferatoxin and SP-102 (10mg dexamethasone sodium phosphate viscous gel), which is a novel formulation popular in corticosteroid for epidural injections in treating lumbosacral radicular pain.
