Pharma BD Deal Intelligence

Sorrento Therapeutics Inc. / Concortis Biosystems Corp.

2013 · Acquisition/Merger · $11M · Complete

Announcement Sentiment

Strongly positive

Sorrento entered definitive agreement to acquire San Diego-based Concortis Biosystems; combined Concortis conjugation platform with Sorrento's G-MAB antibody library to build next-gen ADC capability. Strategically notable platform deal.

Did it work? Outcome assessment

Strategic verdict

Partially Achieved

Financial impact

Neutral

Pipeline outcome

Mixed

Assessment window: 5yr post-close.

Key facts

Announced Nov 15, 2013
Closed Dec 31, 2013
Deal value $11M
Deal type Acquisition/Merger
Therapeutic area Oncology (ADC platform)
Indications Oncology (ADC platform)
Key assets ADC conjugation chemistry / novel toxin platform (next-gen ADCs)
Mechanism Antibody-drug conjugate site-specific conjugation and proprietary toxins

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