Commercialization of COVI-STIX SAN DIEGO, July 20, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that it has formed a subsidiary company based in Mexico City, Sorrento Therapeutics Mexico (“Sorrento Mexico”), to support the clinical development and registration of multiple COVID-19 related products Sorrento plans to develop and commercialize in Mexico and other Latin America territories.
Sorrento Mexico has established offices in Mexico City with Dr. Henry Ji as Chairman and Mr. Hctor Sulaimn S. as Chief Executive Officer.
Sorrento’s distributor has received from COFEPRIS written permission to import the first 25 million test units (1,000,000 boxes of 25 tests/box) of COVI-STIX into the country. These COVI-STIX professional use package contain a positive and a negative control test and all the components necessary for testing. Sorrento is ramping up manufacturing to fulfil subsequent orders.
“We are excited to form Sorrento Mexico to coordinate the development of our COVID-19 portfolio of products in the region, we anticipate expanding the programs to encompass Sorrento’s full range of diagnostic and therapeutic products,” said Henry Ji, Ph.D., Chairman and CEO of Sorrento Therapeutics.
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The test uses a proprietary platinum nano-catalyst core (PtNC) which yields up to 100-fold increases in sensitivity over conventional lateral flow colloidal gold assays. As viral antigen passes over the labeled antibody, the sample encounters the PtNC particles targeted specifically to the virus nucleocapsid(N) or matrix (M) antigens. The antigen is then captured in a strong biotin-avidin complex, producing a conspicuous black line on the membrane stick, indicating a positive result.
Initial validation of COVISTIX has demonstrated a sensitivity of 98%, a specificity of 100%, and an LOD of 6.25 TCID50/swab