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Vandana Singh , Benzinga Staff WriterSorrento Therapeutics To Buy ACEA Therapeutics For $38M In Stock
April 05, 2021 9:37am
Sorrento Therapeutics To Buy ACEA Therapeutics For $38M In Stock
Sorrento Therapeutics Inc (NASDAQ: SRNE) has agreed to acquire ACEA Therapeutics Inc in an all-stock deal of $38 million in shares of Sorrento common stock.
Sorrento will also pay the ACEA up to $450 million in additional milestone payments and 5-10% royalty of the annual net sales.
The acquisition will include late clinical-stage drug Abivertinib, AC0058, AC0939, and ACEA's extensive proprietary library of small molecules (over 1,000,000 compounds).
Lead candidate abivertinib is a small molecule tyrosine kinase inhibitor that selectively targets both a mutant form of the epidermal growth factor receptor and Bruton's tyrosine kinase. It is currently being studied as a Phase 2 treatment for COVID-19-induced respiratory compromise in the U.S. and Brazil.
AC0058 a BTK inhibitor, is currently in a Phase 1b trial for Lupus patients in the U.S.
The acquisition will also include ACEA's facility located in Quzhou, China, on a 23-acre campus with five buildings.
The facility currently can manufacture up to 5,000 kg/year of APIs and 50 million capsules of the final drug product.
The merger is expected to close in the second quarter of 2021.
Price Action: SRNE shares gained 1.5% at $8.13 in market trading on the last check Monday.
Acea geeft dan weer aan hard te geloven in de pijplijn van Sorrento door de overnameprijs te ontvangen in "aandelen van Sorrento". Dat doe je enkel als je gelooft in het bedrijf Sorrento dat de koers flink omhoog kan gaan...
https://www.sciencedirect.com/science/a ... 9921002351
Methodology from the study:
"This paper focuses on identifying inhibitors that target SARS-CoV-2 proteases, PLPRO and 3CLPRO, which control the duplication and manages the life cycle of SARS-CoV-2. We have carried out detailed in silico Virtual high-throughput screening using Food and Drug Administration (FDA) approved drugs from the Zinc database, COVID-19 clinical trial compounds from Pubchem database, Natural compounds from Natural Product Activity and Species Source (NPASS) database and Maybridge database against PLPRO and 3CLPRO proteases."
The authors concluded abivertinib to be a potential top contender to tackle Covid19 based on the screening criteria of the study. Abivertinib was also recommended by the study's authors in their conclusion as a starting point to in the attempt develop Covid19 drug/treatment from existing pharma compounds.
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Heel vreemd artikel met vooral complete voorbijgestreefde info: covitrack test results en CFO wegbeliever schreef: ↑07 apr 2021 08:11https://fintechzoom.com/fintech_news_so ... s-analyst/