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Sorrento Therapeutics Signs Exclusive Option to Acquire IGDRASOL
Date:3/7/2013

SAN DIEGO and FOUNTAIN VALLEY, Calif., March 7, 2013 /PRNewswire/ -- Sorrento Therapeutics, Inc. ("STI"; SRNE: OB) today announced that it has signed an exclusive option to acquire IGDRASOL, a private company focused on the development of oncologic agents for the treatment of metastatic breast cancer (MBC), non-small cell lung cancer (NSCLC) and other cancers.  If the transaction is consummated, the combined company would form an oncology franchise of potential products with Phase 2 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 micellar diblock copolymeric paclitaxel formulation creating a stable, easy-to-administer injectable for effective delivery of drug into tumor tissues.  Cynviloq™ is currently approved and marketed in several countries, including South Korea for MBC and NSCLC under the trade name Genexol-PM®, and has completed Phase 2 testing for potential advancement into registration trials in the U.S. IGDRASOL has the exclusive U.S. distribution rights to Genexol-PM® from Samyang Biopharmaceuticals, a South Korean corporation. 

IGDRASOL is preparing for an "End of Phase 2" meeting with the U.S. Food & Drug Administration (FDA) regarding Cynviloq™ targeted for the first half of 2013.  As a formulation of paclitaxel, Cynviloq™ is potentially eligible for approval via FDA's 505(b)(2) bioequivalence regulatory pathway versus albumin-bound paclitaxel (Abraxane®) in its currently approved MBC and NSCLC indications. Abraxane® recently demonstrated overall survival benefit in a pivotal phase 3 study as a first line combination therapy with gemcitabine in advanced pancreatic cancer. Abraxane® sales exceeded $400 million in MBC in fiscal 2012, and are projected to achieve peak sales over $1.6 b
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SOURCE Sorrento Therapeutics, Inc.
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