Wednesday, August 3, 2016
Sorrento In Joint Venture With Korea's CHA Biotech
San Diego-based Sorrento Therapeutics says it has entered into a new joint venture, with South Korean company CHA Biotech Co., Ltd. (CBT), to develop and commercialize "natural killer cell" therapies developed by CH Biotech. According to Sorrento, both CBT and the company will contribute $2 million each to the new joint venture, which will give CV a 51% stake in the new joint venture, and the remaining 49% being owned by Sorrento. In addition, CBT will contribute its Activated Killer Cell (AKC) technology, with Sorrento providing five Chimeric Antigen Receptor (CAR) modified cellular therapies to the effort.