Sorrento Therapeutics now gains rights for Cynviloq in South America
US late-stage clinical oncology firm Sorrento Therapeutics (Nasdaq: SRNE) says that its fully-owned subsidiary, Igdrasol, has acquired exclusive distribution rights from South Korea’s Samyang Biopharmaceuticals to Cynviloq (marketed as Genexol-PM in South Korea) in South America. Sorrento’s shares gained 14.75% to $10.35 on Friday following the announcement.
Last year Sorrento obtained exclusive rights to Cynviloq (marketed as Genexol-PM in South Korea and other countries) in Australia, Canada and Mexico from Samyang (The Pharma Letter February 11, 2014).
Financial terms of the latest or previous agreements were not disclosed. Sorrento already has exclusive rights from Samyang for Cynviloq in the USA and the 27 countries of the European Union (The Pharma Letter May 14, 2013).
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