Sorrento sets up JV with Korea's CHA Biotech

2 August 2016

US clinical-stage biopharma firm Sorrento Therapeutics (Nasdaq: SRNE) has entered into a binding term sheet to create a joint venture with South Korea’s CHA Biotech (Kosdaq: CHA; "CBT").

The aim of the JV is to develop and commercialize proprietary chimeric antigen receptor (CAR) modified cellular therapies based on CBT's activated killer cell (AKC) technology and five of Sorrento's CARs for all disease conditions, including oncology and infectious diseases. The JV covers products on a global basis with the exception of the Greater Chinese market.

In addition, Sorrento will obtain an exclusive license to develop and commercialize CBT's novel investigator-initiated trial stage AKC technology in major territories, including the USA, Europe, and with a co-exclusive license in China.

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