SRNE - Sorrento Therapeutics rallies on DARPA-JPEO contract to SmartPharm

Defense Advanced Research Projects Agency ((DARPA)) co-funded by the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) awarded SmartPharm Therapeutics, wholly-owned subsidiary of Sorrento Therapeutics (SRNE) +17% PM, a contract for developing a rapid countermeasure to COVID-19.Under the contract, SmartPharm would be provided with $34M for development through Phase 2 clinical studies of a gene-encoded antibody (Gene MAb) that could enable rapid protection from and/or treatment of SARS-CoV-2 infection and COVID-19.It would seek further funding for EUA approval and large-scale manufacturing pending successful clinical studies.For the Gene MAb approach, the SmartPharm/Sorrento team will produce plasmid DNA encoding the SARS-CoV-2 neutralizing antibody STI-2020; currently, FDA is reviewing IND filings for STI-2020 as an IV-delivered neutralizing antibody and STI-2099 as an intranasal-delivered neutralizing antibody for the treatment of COVID-19.

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Sorrento Therapeutics rallies on DARPA-JPEO contract to SmartPharm