Sorrento Therapeutics’s (NASDAQ: SRNE) fully-owned unit SmartPharm Therapeutics has accepted a contract to provide quick protection measures against COVID-19. The contract was granted to SmartPharm by DARPA and is co-supported by JPEO-CBRND. The DRAPA/JPEO deal will offer support to speed up the creation of Gene MAbs. Gene MAbs is the neutralizing antibody that allows the receiver to produce the protective antibody against SAR-CoV-2.
SmartPharm will receive USD$34 Million through this contract and will use this in Phase II clinical trial of Gene MAbs. SRNE and SmartPharm are jointly working to make plasmid DNA encoding the SARS-CoV-2 neutralizing antibody STI-2020. Currently, the FDA is assessing the IND for STI-2020. It is anticipated that STI-2020 has a high potential and is an ideal candidate for Gene MAbs supply against COVID-19.