Sorrento Therapeutics is a San Diego-based biopharmaceutical developer. The company is developing treatments for cancer, inflammation, and autoimmune diseases. In November 2016 the publicly held company secured a $75 million term loan facility from Hercules Capital (HTGC). The loan is available in three tranches, with the first $50 million tranche funded at announcement; terms were not disclosed. The company said the proceeds will go toward general corporate purposes. Sorrento Therapeutics is a San Diego-based biopharmaceutical developer focused on treatments for cancer and other conditions. The company is pursuing development programs across oncology and additional therapeutic areas. To support those development efforts Sorrento has arranged up to $150M in separate private placements. As the first investment under that plan, the company received $10M in a private placement from South Korean company Yuhan Corporation. Under the deal Yuhan purchased 1,801,802 shares of common stock at $5.55 per share and a warrant to purchase 235,294 shares of common stock. The financing is intended to provide near-term capital for Sorrento's ongoing development programs. Sorrento Therapeutics is a San Diego-based oncology drug developer pursuing immunotherapy treatments. The company entered a strategic collaboration with NantWorks to develop next-generation immunotherapies for cancer and autoimmune diseases. The partners will create a joint venture funded with $20M that will focus on developing immunotherapy antibodies. As part of the deal, NantWorks will acquire a 19.9% stake in Sorrento by purchasing common stock at $5.80 per share. NantWorks also received a three-year warrant to purchase 1,724,138 shares at $5.80 per share. The arrangement combines capital and a strategic research partnership to advance Sorrento's antibody immunotherapy programs. Sorrento Therapeutics is a San Diego-based biotechnology startup. The company reported an equity funding round of $2.3M in a regulatory filing. The filing indicated the source of the funding was not disclosed. Antonius Schuh serves as founding chairman and CEO, and Steve Zaniboni is the firm's CFO. Dr. Schuh was previously CEO and Director of AviaraDx and also served at Arcturus Bioscience and Sequenom.

Total raised

$87M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Nov 2016