July 11 (Reuters) - Sorrento Therapeutics SRNE.O
* Sorrento and Servier enter into exclusive worldwide
license and collaboration agreement for development and
commercialization of anti-PD-1 antibody
* Financial terms of agreement include, among other things,
a non-refundable upfront payment to Sorrento of EUR 25 million
* May also receive development milestone payments for
initial product and each additional product
* May receive up to EUR 710 million in payments based on
commercial sales milestones
* To be entitled to receive royalties on sales of
commercialized products ranging from high single-digit to
double-digit percentages
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