Sorrento Therapeutics (SRNE) announced that it has closed a license and collaboration agreement with French drug maker Servier for the development, manufacture and commercialization of Sorrento's IND-stage STI-A1110, a fully human immuno-oncology anti-PD-1 monoclonal antibody. According to the terms of the agreement, Sorrento will receive an upfront payment of �25M, milestones up to �710M and high single-digit to double-digit royalties on net sales.