Sorrento Therapeutics Inc (NASDAQ: SRNE)’s partner, Mabpharm Ltd, got approval from the NMPA (Chinese National Medical Product Administration) to market Infliximab bio better antibodies in China. Outside China, Sorrento holds the right for the product, so it will try to get a BLA (Biologics License Application) in the USA and Europe this year.
Recently Sorrento also announced they opened a subsidiary company Sorrento Therapeutics Mexico in Mexico. It will help the company to market more of their Covid-19 products in Mexico and Latin America.
What Is This Drug?
Infliximab biobetter is now sold under the name Remicade, and it is one of the top 20 medical drugs in 2020, reaching $4.2 billion in sales revenue. It is an injectable antibody drug to treat diseases like Ulcerative colitis, Skin patches of plaque psoriasis, Rheumatoid arthritis, Crohn’s disease.
This drug comes under Tumor Necrosis Factor inhibitors (TNF), restraining the TNF protein from causing further inflammation. Doctors prescribe this antibody only if other treatments or medicines failed to work.
China-approved version of Mabpharm is the new anti-TNF α antibody produced from CHO Cells. While the one available in the market currently is the TNF α antibody produced from the parent mouse and demonstrating the same effect.
Sorrento is working on meeting the FDA and EMA to gain concurrence moving forward to BLA, and also they are planning to discuss the data package.
New Subsidiary Company in Mexico
In Mexico, Sorrento’s importer got the permit to import 25 million COVI-STIX Test Units from Mexico’s COFEPRIS. And the newly established Sorrento Therapeutic Mexico will coordinate all the activities related to Sorrento’s Covid related products in Mexico and Latin American Countries.
Dr. Henry Ji was appointed as Chairman, and Dr. Hector Sulaiman was appointed as CEO of this Mexico office. The 25 million COVI-STIX has both the positive and negative controls needed for the Test. Sorrento is speeding up their manufacturing to fulfill orders around the world.