Shots:

• Sorrento enters into letter of intent to acquire SmartPharm and develops pipeline of gene-encoded therapeutic Ab- initiating with Sorrento’s STI-1499 or COVI-GUARD- currently preclinical studies with an IND submission targeted for Aug’2020.
• The transaction is expected to be close in Aug’2020. The integration of Sorrento's G-MAB Ab library and SmartPharm's GET platform is expected to provide a vast product pipeline of novel- long-acting therapeutic proteins for multiple diseases- including cancer
• STI-1499 is expected to be evaluated in ICU patients to ensure safety and potentially allow a preliminary look at efficacy. In vitro results demonstrated STI-1499's ability to completely neutralize SARS-CoV-2 infection @low doses- making it lead candidate for potential treatment against COVID-19

  Ref: Sorrento | Image: SmartPharm