Sorrento Therapeutics is filing for bankruptcy following a yearslong legal dispute. The biotech submitted its Chapter 11 paperwork Monday, per an SEC filing, after losing an arbitration battle to billionaire Patrick Soon-Shiong’s NantCell in December. The pair battled over a joint venture called NANTibody in 2015, where Sorrento signed an exclusive licensing deal and accused Soon-Shiong of a “catch-and-kill” scheme in 2019.
Read the full article: Sorrento Files for Chapter 11 after Losing Arbitration to Patrick Soon-Shiong Biotech
Source: https://endpts.com/sorrento-files-for-chapter-11-after-losing-arbitration-to-patrick-soon-shiong-biotech