Up­dat­ed: Sor­ren­to files for Chap­ter 11 af­ter los­ing ar­bi­tra­tion to Patrick Soon-Sh­iong biotech

Sor­ren­to Ther­a­peu­tics is fil­ing for bank­rupt­cy fol­low­ing a years­long le­gal dis­pute.

The biotech sub­mit­ted its Chap­ter 11 pa­per­work Mon­day, per an SEC fil­ing, af­ter los­ing an ar­bi­tra­tion bat­tle to bil­lion­aire Patrick Soon-Sh­iong’s Nant­Cell in De­cem­ber. The pair bat­tled over a joint ven­ture called NAN­Ti­body in 2015, where Sor­ren­to signed an ex­clu­sive li­cens­ing deal and ac­cused Soon-Sh­iong of a “catch-and-kill” scheme in 2019.

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