Updated on 9 June 2016
Singapore: TNK Therapeutics, a subsidiary of San Diego's Sorrento Therapeutics has entered into a joint venture with China's Shenyang Sunshine Pharmaceutical to develop cancer immunotherapies. The deal also includes TNK's chimeric antigen receptor T cell ("CAR-T") technology. CAR-T therapies represent one of the most promising new approaches to fighting cancer.
CAR-T therapies genetically engineer immune cells to seek out and destroy the cancer cells. Therapies have produced dramatic results in early-stage trials in patients with advanced forms of blood cancers, referred to as "liquid tumors". These immune cells have been taken from the patients themselves, genetically engineered and then re-infused into the patients.
As per the deal Shenyang Sunshine Pharmaceutical, or 3SBio, will contribute $10 million in return for 51 percent of the joint venture, with TNK owning the remainder. TNK will contribute an exclusive license to three versions of CAR-T, including the CEA version.
Recently, Sorrento Therapeutics had entered into a joint venture with another of Soon-Shiong's companies, NantBioScience. The companies said they would contribute $100 million, with 60 percent from NantBioScience and the rest from Sorrento Therapeutics, with ownership divided in the same proportion.