3SBio Inc. And Sorrento Form $10 Million China JV For CAR-T Drugs

June 7, 2016 -- 3SBio of Shenyang and Sorrento Therapeutics, a US-China biopharma, formed a joint venture to develop CAR-T drugs in China. 3SBio will invest $10 million in the JV, and Sorrento will contribute China rights to its clinical-stage CAR-T cancer treatment and two other CAR-T therapies. 3SBio will own 51% of the JV, with the remainder belonging to Sorrento. The agreement will be carried out between 3SBio's subsidiary, Shenyang Sunshine Pharmaceutical, and Sorrento's China subsidiary, TNK Therapeutics.