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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

ANP Technologies, Inc. Terminates Merger Negotiations with Sorrento Therapeutics, Inc.

September 29, 2021 GMT

NEWARK, Del.--(BUSINESS WIRE)--Sep 29, 2021--

ANP Technologies, Inc. ( ANP ) announced the termination of the binding acquisition Term Sheet with Sorrento Therapeutics, Inc. (SRNE), effective September 28, 2021. The effect of this termination now allows ANP to freely explore other business opportunities with parties interested in ANP’s diagnostic and platform drug delivery technologies.

Moreover, ANP received Emergency Use Authorization (EUA) for its NIDS ® COVID-19 Antigen Rapid Test Kit from the U.S. Food and Drug Administration (FDA) on September 24, 2021. The test, providing a visual result in 15 minutes, is a lateral flow immunoassay (LFA) based on ANP’s Nano-Intelligent Detection System (NIDS) platform technology.

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About ANP Technologies, Inc.
ANP Technologies, Inc. is a clinical stage biopharmaceutical company and a world leader in developing innovative nano-therapeutics and nano-diagnostic tests. ANP has been a premier provider of rapid, multiplexed lateral flow tests for the detection of various biological agents for the Department of Defense over the past decade, as well as successfully licensing various pre-clinical and clinical stage nanotherapeutics to companies such as Celgene/BMS and Fulgent Pharma. In addition, ANP has also developed COVID-19 antigen and neutralizing antibody rapid tests. Visit www.anptinc.com for more information.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210929005961/en/

CONTACT: Greg Witham, MS

302-283-1730

Greg.Witham@anptinc.com

ANP Technologies, Inc.

KEYWORD: DELAWARE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY MEDICAL SUPPLIES INFECTIOUS DISEASES FDA NANOTECHNOLOGY CLINICAL TRIALS BIOTECHNOLOGY HEALTH PHARMACEUTICAL

SOURCE: ANP Technologies, Inc.

Copyright Business Wire 2021.

PUB: 09/29/2021 04:55 PM/DISC: 09/29/2021 04:56 PM

http://www.businesswire.com/news/home/20210929005961/en