Sorrento Therapeutics Inc (SRNE)

[dia76ca]

9 ADNAB cancer drugs now: 1 auto-immune drug coming: 2 of the cancer drugs applying for breakthrough designation: ADNAB potential as a spin-off

"The ADNAB platform will make use of Sorrento’s G-MAB library of fully humanized monoclonal antibodies, which makes it well-placed to deliver an extensive collection of product candidates to combat liquid and solid tumors.
Sorrento, however, believes the platform has potential to be effective in areas other than oncology and work has already begun on developing it for auto-immune diseases.
Later this year, the company intends to file several Investigational New Drug (IND) applications and will also apply for Breakthrough Therapy designation in both ovarian and endometrial cancers.

H.C. Wainwright analyst Ram Selvaraju thinks the new entity is good news for investors.
“In our view, ADNAB's formation merely underscores Sorrento's expertise and commitment to developing next-generation antibody-based drugs using a variety of disruptive, cutting-edge technology platforms,” the 5-star analyst said. “We also note that entities like ADNAB could, if successful, be spun out of Sorrento into an independent listed company, thus unlocking further shareholder value.”