Globavir agrees to exclusively license novel oncology compound to Sorrento Therapeutics

Globavir Biosciences, Inc., a specialty biotechnology company developing small molecule drugs to treat cancer and infectious diseases, and Sorrento Therapeutics, Inc. (NASDAQ: SRNE), an oncology company developing new treatments for cancer and associated pain, announced today that the companies have entered into an agreement under which Globavir exclusively licensed its novel oncology compound, BC001, to Sorrento Therapeutics.

"Our agreement with Sorrento Therapeutics represents the first oncology partnership for Globavir," said Dr. Shalabh Gupta, Globavir's president and CEO. "Sorrento has a strong background in oncology and proven experience in clinical development advancing drugs to commercial stage. We are excited about the potential of BC001 as a new therapeutic option for patients affected with cancer and look forward to leveraging our computational Globavir Drug Discovery Platform (GDDP) to generate additional oncology compounds in the future."