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Biotechnology M&A image Biotechnology M&A » By The Online Investor Staff, updated Tue., Apr. 16, 12:40 PM Recent mergers and acquisitions in the Biotechnology M&A category.

Slide #49. Sorrento Therapeutics, Inc. IgDraSol

Acquirer: Sorrento Therapeutics, Inc. (SRNE)
Acquiree: IgDraSol
Details: Sorrento Therapeutics, Inc. (OTC QB: SRNE; Sorrento) announced today that it has completed the merger with IgDraSol, Inc., a privately-held company focused on the development of cancer therapeutics. Upon the closing of the merger, IgDraSol shareholders will receive the equivalent of 3,047,968 million shares of Sorrento's common stock. Such issuance reflects Sorrento's recent reverse stock split, and based on the closing share price on September 6, 2013, the transaction is valued at $28.2 million.

Sorrento Therapeutics is a clinical stage and commercial biopharmaceutical company that delivers therapies to address unmet medical needs. Co. has programs assessing the use of its technologies and products in autoimmune, inflammatory, viral and neurodegenerative diseases. Co.'s segments are: Sorrento Therapeutics, which includes Sofusa®, a drug delivery technology that delivers biologics into the lymphatic system, and resiniferatoxin, a non-opioid-based neurotoxin in clinical trials for late stage cancer pain and moderate to severe osteoarthritis of the knee pain; and Scilex, which includes ZTlido, a lidocaine topical system for the relief of pain associated with post-herpetic neuralgia.

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Company Name: 
Sorrento Therapeutics Inc
Website: 
www.sorrentotherapeutics.com
Sector: 
Biotechnology
 

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Strong Buy (4.00 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)

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