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Sorrento Therapeutics Closes $150 Million Financing, Led by Ally Bridge

publication date: Jun 8, 2016
Sorrento Therapeutics, a San Diego-China biopharma, closed a $150 million private placement led by Ally Bridge Group, which is headquartered in Hong Kong. The investors bought 25 million shares at $5.55 each, which was about Sorrento's price when the investment was announced on April 4. They will also receive warrants to buy 5 million additional shares at $8.50 each. Ally Bridge was joined in the financings by Beijing Shijilongxin Investment, FREJOY Investment Management and South Korea's Yuhan Corp. Yesterday, Sorrento announced a China JV with 3SBio of Shenyang to develop CAR-T drugs. More details....

Stock Symbols: (NSDQ: SRNE) (HK: 1530)

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