Sorrento Therapeutics licenses Biomiga Diagnostics' drug monitoring device
Sorrento Therapeutics, a publicly-traded, development-stage biopharmaceutical company, has secured an exclusive license for the worldwide rights to Biomiga Diagnostics' proprietary therapeutic drug monitoring (TDM) device for paclitaxel products. The agreement allows Sorrento to utilize the TDM device for the clinical development of individualized dosing regimens of Sorrento's late-stage compound, Cynviloq (paclitaxel polymeric micelle).
Sorrento can exercise the option for exclusive rights to paclitaxel monitoring products and exclusive commercial supply by Biomiga upon the payment of $1 million within 30 days of the TDM device being ready for human clinical trials with Cynviloq.
“Biomiga's TDM device may enable us to develop and deliver a potentially advantageous paclitaxel product for patients by establishing a new paradigm for chemotherapy," said Henry Ji, Ph.D., president and chief executive officer of Sorrento.
Successful development of an oncology TDM program at the point-of-care may change the way cancer patients are treated. Biomiga's TDM device in development is intended to provide a point-of-care measurement of patient paclitaxel blood levels during chemotherapy treatment, potentially maximizing anti-tumor responses while minimizing toxicity. Paclitaxel chemotherapy treatment exhibits a narrow therapeutic window with a high variation in blood levels.