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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Sorrento to acquire antibody-drug conjugation technology

12:43 PM MST | November 14, 2013 | Deepti Ramesh

Sorrento Therapeutics (San Diego), a publicly traded, development-stage biopharmaceutical company, says it has entered into a definitive agreement to acquire Concortis Biosystems (San Diego) in a deal that provides Sorrento with a comprehensive technology platform for generation of antibody-drug conjugates (ADCs). Sorrento, under the terms of the agreement, will issue an aggregate of 1,331,978 shares of its common stock to the Concortis shareholders. This acquisition will enable Sorrento to utilize the antibodies identified from its G-MAB library along with...

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