Sorrento Therapeutics Inc. is planning to buy Igdrasol, a private company that develops cancer-treatment products.
Fountain Valley, Calif.-based Igdrasol’s products treat metastic breast cancer, non-small lung cancer and other cancers. The company’s Cynviloq product can inject medication into tumors. Cynviloq is approved in South Korea, and has completed Phase 2 testing in the U.S.
Sorrento, headquartered in San Diego, is a development stage biopharmaceutical company that focuses on developing and commercializing medicines to treat cancer, inflammation and metabolic and infection diseases. Terms of the deal were not disclosed.