Sorrento Therapeutics Inc (NASDAQ: SRNE), which is being touted as a takeover target, announced Friday it's working on potential preventative treatment for SARS-CoV-2, the virus that causes COVID-19.The San Diego, California-based company, which is engaged in the development of new therapies for cancer, said it has produced a pre-clinical batch of STI-4398 aka "COVIDTRAP' protein and would immediately start testing its neutralizing and blocking activity in preventing the virus from infecting angiotensin-converting enzyme 2, or ACE2-expressing cells.STI-4398, according to Sorrento, is a proprietary ACE2-Fc fusion protein that binds to the S1 domain of the spike protein. This could block the spike protein of the virus and prevent it from binding to the ACE2 receptors present on the target respiratory epithelial cells. Unable to penetrate the target cells, the virus loses its ability to replicate and spread.This approach is likely to come in handy to generate passive immunity and shield at-risk populations...
