Sorrento to Acquire SmartPharm

Sorrento Therapeutics, Inc. and SmartPharm Therapeutics, Inc. signed a letter of intent for Sorrento to acquire SmartPharm, a gene-encoded therapeutics company developing non-viral DNA and RNA gene delivery platforms for COVID-19 and rare diseases, with broad potential for application in enhancing antibody-centric therapeutics. The transaction is expected to close in August 2020. Financial terms were not disclosed.

The companies previously entered a R&D collaboration to encode and express in vivo Sorrento's SARS-CoV-2 neutralizing monoclonal antibodies utilizing SmartPharm's Gene Mab plasmid nanoparticle platform.

Sorrento plans to accelerate the development of multiple candidates for in vivo gene-encoded expression of Sorrento's antibodies, starting with Sorrento's STI-1499, or COVI-GUARD, which is currently moving through preclinical and manufacturing requirements with an IND submission planned for August 2020. The initial clinical trial for STI-1499 is expected to be in ICU patients to evaluate safety and a preliminary look at efficacy. In vitro results have demonstrated STI-1499's ability to completely neutralize SARS-CoV-2 infection at low doses, making STI-1499 Sorrento's lead candidate for potential cost-effective passive protection against COVID-19.

SmartPharm's Gene Mab platform delivers to muscles a novel low-immunogenic DNA plasmid encoded with a therapeutic antibody for long-lasting expression in vivo. If clinical trials are successful, a single administration of STI-1499dpi could allow the recipient's own muscle cells to produce the antibody for a prolonged period of time after a single injection, potentially providing an alternative to vaccines. Manufacturing of DNA plasmids can be done with Sorrento's in-house cGMP capabilities for a fraction of the cost associated with traditional antibody manufacturing, according to the company.