SAN DIEGO and IRVINE, Calif., May 13, 2013 /PRNewswire/ --Sorrento Therapeutics, Inc. ("STI"; SRNE) and IGDRASOL announced today the acquisition of exclusive distribution rights from Samyang Biopharmaceuticals ("Samyang"), a South Korean corporation, to Cynviloq (marketed as Genexol-PM in South Korea) in the 27 countries of European Union (EU). IGDRASOL had previously obtained the exclusive U.S. distribution rights to Cynviloq from Samyang, and with this agreement, Samyang again recognizes the ability of IGDRASOL's management team to leverage its domain expertise in nanomedicine for the development and commercialization of Cynviloq. STI has the right to acquire IGDRASOL pursuant to a previously-announced option agreement, entered into in March 2013.
Cynviloq is a next-generation, branded, micellar diblock copolymeric paclitaxel formulation currently approved and marketed in several countries, including South Korea for Metastatic Breast Cancer (MBC), Non-small cell lung cancer (NSCLC) and ovarian cancer. It has also completed Phase 2 studies for potential advancement into registration trials in the U.S. Preliminary data analysis from an ongoing MBC Phase 3 trial in South Korea has indicated a significantly improved overall response rate (ORR) for Cynviloq as compared to a solvent-based paclitaxel, a generic version of Taxol. More comprehensive data analyses will be presented at future medical conferences.
"We look forward to potentially making this important drug, Cynviloq, available to cancer patients who would greatly benefit from it initially as an alternative to Abraxane and potentially in the future as a treatment option for indications such as bladder and ovarian cancers," said Vuong Trieu, Ph.D., chief executive officer of IGDRASOL.
About Cynviloq
Cynviloq (or Genexol-PM; a paclitaxel-loaded micellar diblock copolymer) is a next-generation branded paclitaxel formulation currently approved and on the market in several countries.
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).
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 http://www.sorrentotherapeutics.com.
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Sorrento Therapeutics, Inc. and IGDRASOL Announce the Acquisition of Exclusive Distribution Rights to Cynviloq™ for ...