Openning of cGMP Facility in Suzhou, China
SAN DIEGO, May 2, 2017 /PRNewswire/ -- LevenaBiopharma (Levena), is a subsidiary of Sorrento Therapeutics, Inc. (NASDAQ: SRNE; "Sorrento"). Levana has three sites locations in San Diego, Suzhou, and Nanjing China. It announced today a recently completed construction project in Suzhou has finished the first phase of the new cGMP production facility with the release of a cGMP API. The second phase of this construction project will add an additional 24.5 K sq ft is to be completed in Q4 2017. This new state of art facility will provide the much needed expertise and resources for our domestic and international partners. Management expect to realize significant revenues utilizing the capacities and capabilities as a CRO/CMO in the development and commercial productions of Antibody Drug Conjugates by 2020.