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news.NantWorks and Sorrento Therapeutics have entered into a binding agreement for the discovery and development of new anti-cancer immunotherapies.
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The new products will be developed from Sorrento’s G-MAB library against neoepitopes of tumor-specific antigens discovered using NantWorks’ pan-omics based, precision medicine approach.
As part of the deal, Sorrento will license to NantCell, a NantWorks company, certain antibodies and CAR-TNK products and the checkpoint inhibitors PD-1 and PD-L1 in exchange for $10m in cash and $100m in NantCell’s equity.
Apart from the equity and cash payments, Sorrento will also be eligible to have a share of all future profits resulting from the collaboration.
In December 2014, the two firms have agreed to form a joint venture known as NantiBody to develop a Phase III antibody from NantCell and a portfolio of pre-clinical immune-modulating, immuno-oncology and bispecific antibodies as well as ADCs from Sorrento.
Both NantWorks and Sorrento will be providing funds of $100m to the new joint venture company, NantiBody.
Sorrento president and CEO Dr Henry Ji said: "Through these strategic alliances, we are accelerating the development of our diverse portfolio of fully human monoclonal antibodies into the clinic.
"In addition, we will be spearheading the discovery and development of immunotherapies against neoepitopes of tumor-specific antigens."
Sorrento’s most advanced asset Cynviloq, the next-generation nanoparticle paclitaxel, completed patient enrollment in the TRIBECA registrational trial in January 2015.
Currently, Sorrento is also developing resiniferatoxin (RTX), a non-opiate TRPV1 agonist in a Phase I/II trial at the NIH to treat terminal cancer patients suffering from intractable pain.