Sorrento, NantWorks Partner To Develop Cancer Immunotherapies
By Cyndi Root
Sorrento Therapeutics has partnered with NantWorks to jointly develop immunotherapies for cancer and auto-immune diseases. The company announced the deal in a press release, stating that NantWorks and a subsidiary will establish a new biotechnology company, the Immunotherapy Antibody JV. The NantWorks family of startups was founded by Patrick Soon-Shiong, a billionaire, a physician, and a biotech entrepreneur. He said, "Combining NantWorks' cutting edge expertise in genomic and molecular profiling of cancer patients and Sorrento's industry-leading G-MAB antibody technology, we believe will enable us to develop multiple novel therapies for malignant disorders where there is currently a significant unmet need.”
Under the terms of the agreement, the Nantworks subsidiary will acquire a 20 percent stake in Sorrento by purchasing common stock. Sorrento also granted the entity a 3-year option to purchase additional shares at the same price. NantWorks will invest $20 million initially into the new Immunotherapy Antibody JV company.
Immunotherapy Antibody JV Activities
The Immunotherapy Antibody JV will focus on developing multiple immuno-oncology monoclonal antibodies (mAbs). Agents may include antibody drug conjugates (ADCs), bispecific antibodies, and immune-check point antibodies. Targets are difficult-to-treat cancers, metastatic melanoma, non-small cell lung cancer (NSCLC), and other kinds of cancer. Sorrento states that the market for these types of agents is a potential $35 billion a year over the next 10 years.
G-MAB Antibody Technology
Dr. Henry Ji, President and CEO of Sorrento, also commented on the new venture, stating that the deal validates the efficacy of his company’s G-MAB antibody technology. The platform facilitates rapid identification and selection of highly specific monoclonal antibody (mAb) candidates. The library contains ten quadrillion unique antibodies, including anti-PD1 and anti-PD-L1 mAbs.
About NantWorks
NantWorks’ founder invented the first human nanoparticle chemotherapeutic agent, Abraxane. The parent company holds several entities under its umbrella, including NantOmics, NantBioScience, and NantBioCell. The companies work together with each other and external partners to develop a wide range of technologies in the pharmaceutical industry and others. In pharmaceuticals, the company is taking a personalized approach to treatment, using the human genome to identify patients and target therapeutics. In June 2014, NantHealth, a healthcare Information Technology (IT) company, announced that Celgene invested $25 million in the company, in addition to the $75 million that it already invested.