---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-114354"
form_type: "8-K"
ticker: null
cik: "0000850261"
company_name: "Sorrento Therapeutics, Inc."
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:56:13.961909+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sorrento Therapeutics sells ImmuneOncia stake to Yuhan for $20M; closes Nov 2

## Summary
- Sold 22,665,440 ImmuneOncia shares and related patents to Yuhan for $20M cash.
- Received $18M at closing on Nov 2; $2M held in escrow pending patent transfer filings.
- Bankruptcy Court approved the sale on Nov 1, 2023; transaction closed next day.
- Buyer also assumed certain liabilities; Sorrento entered a technology transfer agreement.

## SEC filing metadata
- accession: 0001104659-23-114354
- form_type: 8-K
- cik: 0000850261
- company_name: Sorrento Therapeutics, Inc.
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/850261/000110465923114354/0001104659-23-114354-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/850261/000110465923114354/tm2329707d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-114354
- JSON: https://secwatch.observer/filing/0001104659-23-114354.json
- Plain text: https://secwatch.observer/filing/0001104659-23-114354.txt

## Key facts
- M&A Transactions
  Sorrento Therapeutics, Inc. completed a disposition involving Yuhan Corporation for $20 million (closed 2023-11-02).
  - Action: disposition
  - Counterparty: Yuhan Corporation
  - Consideration: $20 million
  - Closing: 2023-11-02
  source text: venture (collectively, and together with the ImmuneOncia Common Shares and the Purchased Patents, the “ Purchased Assets ”), in exchange for an aggregate amount in cash equal to $20 million and Purchaser’s assumption of certain liabilities as further described in the APA, all subject to Bankruptcy Court approval. Following a hearing before the Bankruptcy Court on
  evidence_url: https://www.sec.gov/Archives/edgar/data/850261/000110465923114354/0001104659-23-114354-index.htm
- Material Agreements
  Sorrento Therapeutics, Inc. entered into Asset Purchase Agreement with Yuhan Corporation valued at $20 million in cash (effective 2023-10-30).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Yuhan Corporation
  - Value: $20 million in cash
  - Effective: 2023-10-30
  source text: On October 30, 2023, Sorrento and Yuhan Corporation (the " Purchaser ") entered into that certain Asset Purchase Agreement (the " APA ") pursuant to which the Purchaser agreed to acquire (the " ImmuneOncia Sale ") (i) 22,665,440 shares of common stock (" ImmuneOncia Common Shares ") of ImmuneOncia Therapeutics Inc. (" ImmuneOncia "), a company duly organized under the laws of the Republic of Korea and a joint venture between Sorrento and the Purchaser, representing the entirety of Sorrento's stake in the ImmuneOncia joint venture and (ii) certain related patents (the " Purchased Patents "), technology, inventory, books and records and contracts of Sorrento related to the ImmuneOncia joint venture (collectively, and together with the ImmuneOncia Common Shares and the Purchased Patents, the " Purchased Assets "), in exchange for an aggregate amount in cash equal to $20 million and Purchaser's assumption of certain liabilities as further described in the APA, all subject to Bankruptcy Cou
  evidence_url: https://www.sec.gov/Archives/edgar/data/850261/000110465923114354/0001104659-23-114354-index.htm
- Material Agreements
  Sorrento Therapeutics, Inc. entered into Manufacturing Technology Transfer Agreement with Yuhan Corporation valued at Not specified (effective 2023-11-02).
  - Action: entry
  - Agreement: license
  - Counterparty: Yuhan Corporation
  - Value: Not specified
  - Effective: 2023-11-02
  source text: Concurrently with the closing of the ImmuneOncia Sale, Sorrento and the Purchaser entered into a Manufacturing Technology Transfer Agreement (the " Technology Transfer Agreement ") with Purchaser on November 2, 2023, pursuant to which Sorrento agreed to assist the Purchaser with a technology transfer to a manufacturing facility designated by the Purchaser to facilitate the Purchaser's manufacture of a certain product after the closing of the ImmuneOncia Sale.
  evidence_url: https://www.sec.gov/Archives/edgar/data/850261/000110465923114354/0001104659-23-114354-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.