Sorrento Therapeutics signs exclusive option to acquire IGDRASOL

USA-based Sorrento Therapeutics, Inc. (SRNE: OB) 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.

Assuming the transaction is consummated, the combined company would form an oncology franchise of potential products with Phase II 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 II testing for potential advancement into registration trials in the USA. IGDRASOL has the exclusive US distribution rights to Genexol-PM from Samyang Biopharmaceuticals, a South Korean company.