Sorrento to Form CAR/Killer Cell JV with Korea's CHA Biotech

San Diego's Sorrento Therapeutics has signed a binding term sheet to form a joint venture with CHA Biotech of South Korea. The JV will combine five of Sorrento's Chimeric Antigen Receptors for oncology and infectious diseases with CHA's Activated Killer Cell technology. The JV will hold global rights to the products with the exception of the Greater China market. Each company will invest $2 million into the venture, giving CHA a 51% stake in the JV, while Sorrento will own the rest. Also, Sorrento will have an exclusive license to develop CHA's AKC technology in major territories and a co-exclusive license in China.  More details.... Stock Symbols: (NSDQ: SRNE) (KOSDAQ: CHA) Share this with colleagues: // //