Sorrento Therapeutics Inc. (NASDAQ: SRNE) has completed the purchase of Boston, MA-based firm Virex Health Inc. On February 1, 2022, Virex spun out of the Labs of Dr. Scott Schaus and Prof Mark Grinstaff at BU.
Virex Tech platform detect analytes such as SARS-CoC-2
The novel Virex Technology detects picogram grade biological analytes like SARS-CoV-2 and its variations, Flu A/B, and also indicators for liver cancer, hormone monitoring, and inflammation using enzymatic and electrochemical amplification.
Dr. Schaus said, “One of the most exciting things about this Virex platform is the potential to finally provide an extremely sensitive and affordable detection test which is simple enough to use at home. Similar to a glucose meter, the amplified electrochemistry signal is converted to an electrical current and read in a reusable glucometer.”
Glucose meters are now found in roughly one out of every ten houses throughout the globe. Interestingly the chemistry is versatile, and the supply chain is extremely scalable.
The teams at Sorrento and Virex have been collaborating to establish the first test that will be used to seek commercialization. Drs. Schaus and Grinstaff and other lead scientists at Virex will be vital personnel in aiding further development and commercialization.
Grinstaff commented, “The current sensitivity for at-home testing is just too low, and the price per test is still too high for daily testing. With capabilities both in therapeutics and in diagnostics, Sorrento is an ideal company to take this next-generation Virex platform to the world across a wide range of analytes, including viruses, nucleic acids, proteins, hormones and other biomarker.”
Virex acquisition strategic for Sorrento’s extensive antibody library
The acquisition is strategic for Sorrento since it has a robust antibody library that is complementary to Virex’s enzymatic amplification diagnostic platform
Sorrento Chairman and CEO Henry Ji stated, “We at Sorrento are amazed by the unmatched sensitivity of the Virex tests for detecting the virus that causes COVID-19 and are excited to mass-produce and commercialize the rapid at-home tests for daily COVID-19 testing and frequent early cancer detection.”
