Sorrento Therapeutics, Inc. and IGDRASOL Announce Presentation on Non-Biologic Nanoparticle paclitaxel (NBN-Pac) Formulations for the Treatment of Solid Tumors at the Nanomedicine 2013 Meeting in Barcelona, Spain

Mon Apr 8, 2013 12:17am EDT

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IGDRASOL will present updates on its proprietary late clinical stage NBN-Pac
formulations, including Cynviloq™, a paclitaxel nanoparticle, and the recently
acquired IG-004, a vitamin E-based paclitaxel emulsion. Highlights of the
findings include the studies and comparison of pharmacokinetic and
pharmacodynamic properties as well as drug release characteristics to Abraxane®,
an albumin-based paclitaxel nanoparticle (nab-paclitaxel).
SAN DIEGO  and  FOUNTAIN VALLEY, Calif.,  April 8, 2013  /PRNewswire/ --
Sorrento Therapeutics, Inc. ("STI"; SRNE) and IGDRASOL announced today that
IGDRASOL will be presenting updates of its analysis of proprietary late clinical
stage NBN-Pac formulations, namely IG-001 (Cynviloq) and IG-004 (a
D-a-tocopheryl polyethylene glycol succinate (TPGS)-based paclitaxel
formulation) at the annual Nanomedicine 2013 meeting in  Barcelona, Spain 
(April 11th  - 12th). IGDRASOL is a privately-held company for which STI was
granted an irrevocable option right to acquire.  The two companies' combined
pipeline features an oncology franchise of potential products with Phase 2/3
data for multiple solid tumor indications as well as two synergistic drug
discovery and development platforms, namely the G-MAB human antibody library and
MABiT, a proprietary technology to generate antibody formulated drug conjugates
(AfDC).

Cynviloq (or IG-001) is a next-generation, branded, micellar diblock copolymeric
paclitaxel formulation currently approved and marketed in several countries as
Genexol-PM. Cynviloq has completed Phase 1 or 2 trials in MBC, NSCLC, pancreatic
cancer, ovarian cancer and bladder cancer in the US and/or non-US. IGDRASOL is
preparing for an "End of Phase 2" meeting with the U.S. Food & Drug
Administration (FDA) targeted for the first half of 2013 regarding Cynviloq.  As
an injectable nanoparticle formulation of paclitaxel, Cynviloq is potentially
eligible for approval via FDA's 505(b)(2) regulatory pathway versus
albumin-bound paclitaxel (nab-paclitaxel; Abraxane) in its currently approved
metastatic breast cancer (MBC) and non-small cell lung cancer (NSCLC)
indications.  

IG-004 (formerly known as TOCOSOL paclitaxel) is a TPGS-based emulsion of
paclitaxel, which was recently acquired from OncoGenex Pharmaceuticals, Inc.
(OGXI). IG-004 has completed Phase 2 trials in NSCLC, pancreatic cancer, ovarian
cancer, colorectal cancer or bladder cancer as well as completed Phase 3 studies
in MBC in the US and/or non-US. IGDRASOL recently acquired the IG-004 portfolio
asset from OncoGenex. IGDRASOL plans to reexamine the clinical data of IG-004 to
map out the best path forward given the benefit of hindsight.

"We intend to leverage our comprehensive domain knowledge of paclitaxel
nanoparticle formulations to build a franchise of next generation paclitaxel
nanomedicines.  I am convinced that our team who played a key role in the
development and success of Abraxane will be able to do it here again," said
Vuong Trieu Ph.D., Chief Executive Officer of IGDRASOL.

Also, the acquisition of TOCOSOL paclitaxel allows IGDRASOL to compare and
contrast stable paclitaxel nanoparticles (TOCOSOL paclitaxel) versus
plasma-unstable paclitaxel nanoparticles (Abraxane and Genexol-PM).  Data mining
of these large databases have generated exciting insights into the field of
nanomedicine.   

Some of the findings are being presented at Nanomedicine 2013,  April 11th 
-12th,  Barcelona, Spain.  The presentation is entitled: "Non-biologic
Nanoparticle Paclitaxel for the Treatment of Cancer" authored by: Vuong Trieu, 
Catherine Cheng, Larn Hwang,  Chao Hsiao, and  Kouros Motamed.   

About Cynviloq

Cynviloq (or IG-001; a paclitaxel-loaded micellar diblock copolymer) is a
next-generation branded paclitaxel formulation currently approved and on the
market in several countries as Genexol-PM.  

About Sorrento Therapeutics, Inc.

Sorrento Therapeutics, Inc. ("STI"; SRNE) is a publicly-traded,
development-stage biopharmaceutical company focused on the discovery,
development and commercialization of novel and proprietary biotherapeutics for
the treatment of a variety of disease conditions, including cancer,
inflammation, metabolic and infectious diseases. STI's objective is to identify
drug development candidates derived from its proprietary human antibody
libraries and, either independently or through partnerships, advance selected
targets into preclinical or clinical development. In 2012, STI identified and
further developed a number of potential drug product candidates across various
therapeutic areas, and STI intends to select several lead product candidates to
progress into preclinical development activities in 2013. More information is
available at  www.sorrentotherapeutics.com.  

About IGDRASOL

IGDRASOL's lead therapeutic platform is Cynviloq, a branded micellar paclitaxel
formulation which is free of cremophor and human serum albumin (HSA), the
excipients for Taxol (cremophor-based paclitaxel) and albumin-bound paclitaxel
(Abraxane), respectively. Cynviloq combines the simplicity of manufacturing and
preparation of Taxol and potentially the albumin-mediated transport of
paclitaxel. IGDRASOL intends to conduct registration trials for multiple cancer
indications.    

The executives of IGDRASOL are a group of pharmaceutical veterans who believe
that personalized paclitaxel nanoparticle therapy will present a paradigm shift
in the delivery of chemotherapeutic agents.  To learn more about IGDRASOL's
mission, please visit its website (http://www.igdrasol.com).  

Forward-Looking Statements

This press release contains forward-looking statements subject to risks and
uncertainties that could cause actual results to differ materially from those
projected. Words such as "plans," "believes," "expects," "anticipates," and
"will," and similar expressions, are intended to identify forward-looking
statements. Forward-looking statements include statements about the potential
combination of STI and IGDRASOL and the synergies and prospects for a combined
enterprise going forward; and the clinical development and commercial potential
of Cynviloq. All such forward-looking statements are based on STI's current
beliefs and expectations, and should not be regarded as a representation by STI
that any of its plans will be achieved. Actual results may differ materially
from those set forth in this press release due to the risks and uncertainties
inherent in STI's and IGDRASOL's businesses, including: whether STI will have
sufficient cash and other resources to exercise the option and ultimately
acquire IGDRASOL; the potential that STI and the combined company may require
substantial additional funding in order to obtain regulatory approval for and
commercialize any oncology products; the risk that delays in the regulatory
approval or commercial launch of Cynviloq will enable competitors to further
entrench existing products, or develop and bring new competing products to
market before the approval, if any, of Cynviloq; the scope and validity of
patent protection for Cynviloq as well as STI's and IGDRASOL's platform
technologies, and the risk that the development or commercialization of product
candidates may infringe the intellectual property rights of others; and
additional risks set forth in Sorrento Therapeutics' filings with the Securities
and Exchange Commission. These forward-looking statements represent Sorrento
Therapeutics' judgment as of the date of this release. You are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date hereof. All forward-looking statements are qualified in their entirety
by this cautionary statement and STI undertakes no obligation to revise or
update this press release to reflect events or circumstances after the date
hereof. This caution is made under the safe harbor provisions of Section 21E of
the Private Securities Litigation Reform Act of 1995.  

Genexol-PM is a registered trademark of Samyang Corporation; Abraxane is a
registered trademark of Celgene, Inc; Taxol is a registered trademark of
Bristol-Myers Squibb, Inc.

SOURCE  Sorrento Therapeutics, Inc.


Mr. Jaisim Shah, Chief Business Officer, Sorrento Therapeutics, Inc.,
jshah@sorrentotherapeutics.com, + 1 (650) 996-2367

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