Sorrento Lands $150 Million in Private Placement, Led by Ally Bridge

Sorrento Therapeutics of San Diego raised $150 million in a private placement that was led by Ally Bridge Group, a China-US life science private equity investor. The transaction also involved Sorento's South Korean partner, Yuhan and several institutional investors. Sorrento is a clinical-stage company that develops novel immunotherapies for cancer and autoimmune/inflammation. In August 2015, Sorrento in-licensed four monoclonal antibodies from China's Mabtech, consisting of two biobetters and two biosimilars. More details.... Stock Symbols: (NSDQ: SRNE) (KS: 000100) Share this with colleagues: // //