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Sorrento Announces That It Has Acquired A Majority Ownership In Diagnostic Manufacturer Zhengzhou Fortune Bioscience In Response To Increasing Worldwide Demand For Covistix™

Sorrento Announces That It Has Acquired A Majority Ownership In Diagnostic Manufacturer Zhengzhou Fortune Bioscience In Response To Increasing Worldwide Demand For Covistix™

02/17/22, 6:05 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsan diego
Industry
biotechnology
science and engineering
health care
Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced the acquisition of a majority ownership of Zhengzhou Fortune Bioscience Co., Ltd. (“FortuneBio”). This acquisition is in response to dramatically increasing demands worldwide and planned product build-up in anticipation of potential additional approvals for Sorrento’s COVISTIXTM COVID-19 VIRUS Rapid Antigen Detection Test.

Company Info

Company
Sorrento Therapeutics
Location
San Diego, California, United States
Company info
Sorrento Therapeutics, Inc. is a clinical stage and commercial biopharmaceutical company focused on delivering innovative and clinically meaningful therapies to address unmet medical needs. Our vision is to leverage our proprietary G-MAB™ library in conjunction with a proprietary targeted delivery modalities to generate the next generation of therapeutics for treating cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. These modalities include proprietary chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy (DAR-T™), antibody-drug conjugates (ADCs), oncolytic virus (Seprehvec™), lymphatic drug targeting (SOFUSA®), as well as bispecific antibody approaches. We are additionally developing pain management solutions, including our clinical candidates resiniferatoxin (RTX) and SEMDEXA™. In response to the global SARS-CoV-2 (“COVID-19”) pandemic, we are also developing and conducting clinical studies for potential coronavirus antiviral therapies and vaccines, including Abivertinib, COVI-MSC™, COVI-AMG™, COVIDROPS™, and COVI SHIELD™, and diagnostic test solutions, such as COVISTIX™ and COVITRACK™.

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