March 31, 2020 / 11:41 AM / 2 months ago

BRIEF-Sorrento Therapeutics & Nanjing Hongjing Enterprise Management Consulting Entered Into A Binding Term Sheet

March 31 (Reuters) - Sorrento Therapeutics Inc:

* SORRENTO THERAPEUTICS INC - ON MARCH 31, CO & NANJING HONGJING ENTERPRISE MANAGEMENT CONSULTING CO ENTERED INTO A BINDING TERM SHEET

* SORRENTO THERAPEUTICS INC - UNDER BINDING TERM SHEET, CO WILL SELL TO NANJING HONGJING CERTAIN ASSETS RELATED TO COMPANY’S OPERATIONS IN CHINA

* SORRENTO THERAPEUTICS INC - SUBJECT TO CERTAIN CONDITIONS, AT CLOSING OF ACQUISITION, NANJING HONGJING WILL PAY COMPANY $30.0 MILLION Source text for Eikon: Further company coverage:

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