Sorrento To Acquire IGDRASOL

Sorrento Therapeutics has signed an exclusive option to acquire IGDRASOL, a private company focused on the development of oncology agents for the treatment of metastatic breast cancer (MBC), non-small cell lung cancer (NSCLC) and other cancers. The combined company would include potential products with Phase II data for multiple solid tumor indications, as well as two synergistic drug discovery and development platforms.
 
IGDRASOL’s lead compound, Cynviloq, is a next-generation injectable formulation for delivery directly into tumor tissues. Cynviloq is currently approved and marketed in several countries, including South Korea for MBC and NSCLC, and has completed Phase II testing for potential registration in the U.S. IGDRASOL has the exclusive U.S. distribution rights to Genexol-PM from Samyang Biopharmaceuticals, a South Korean company.
 
Sorrento also acquires a tocopherol polyethelyene glycol succinate (TPGS)-based drug formulation technology, which could serve as a foundation for novel, next-generation, targeted therapeutics competitive against current antibody drug conjugates (ADC). Sorrento will assume responsibility for operating expenses related to development of these antibody-formulated drug conjugates (AfDC).
 
“This transaction is transformational for Sorrento, as early- and late-stage product candidates, technologies and development expertise combine to create an oncology franchise and pipeline with tremendous value potential. This transaction also reflects our commitment to improving the lives of cancer patients worldwide through innovative medicines discovered and developed both in-house and via external opportunities,” said Henry Ji, Ph.D., president and chief executive officer of Sorrento. “In particular, Cynviloq provides us with a high-value asset that has near-term revenue potential in MBC and NSCLC, and longer-term revenue potential in pancreatic, ovarian, bladder and gastric cancers.”