Sorrento Mexico and the National Institute of Genomics

• After COVI-STIX â„¢ (COVID-19 VIRUS RAPID ANTIGEN DETECTION TEST) obtained the Emergency Use Authorization (EUA) approval from the Comisión Federal para la Protección contra Riesgos Sanitarios (COFEPRIS), Sorrento and Mexican INMEGEN (“Instituto Nacional de Medicina Genomica”) organized meetings to explore collaboration.
• Sorrento Therapeutics Mexico (“Sorrento Mexico”) and INMEGEN have signed a memorandum of understanding to continue their collaboration in the clinical development of a broad portfolio of COVID products, including diagnostics, multivalent mRNA vaccines and therapeutic products . Sorrento offers its most comprehensive portfolios and a ‘one-stop-shop’ of potential solutions for governments interested in a multimodal ‘detect and treat’ approach to the COVID-19 pandemic.
• Sorrento Mexico plans to install local research and clinical development capacity within INMEGEN facilities and staff in Mexico City and will work closely with Mexican hospitals and clinical institutions on clinical protocols, regulatory registration and approval requirements for COVID-19 product development.

SAN DIEGO, August 03, 2021 (GLOBE NEWSWIRE) – Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today announced that its subsidiary, Sorrento Therapeutics Mexico (“Sorrento Mexico”), has entered into a memorandum of agreement with the National Institute of Genomic Medicine INMEGEN (“Instituto National de Medicine Genomica”) to cooperate in the development, testing and support of several COVID-19-related products that Sorrento plans to market in Mexico.

Sorrento Mexico and INMEGEN will expand their collaboration to include other products in the Sorrento COVID pipeline covering multivalent diagnostics, therapies and vaccines, including the following product candidates:

• COVITRACK â„¢: diagnostic test for detecting COVID-19 antibodies for vaccinated persons;
• STI-2020 (COVI-AMG â„¢): Affinity-matured neutralizing antibody against SARS-CoV-2 for ambulatory COVID patients;
• STI-2099 (COVIDROPS â„¢): intranasal neutralizing antibody version of COVI-AMG for newly diagnosed COVID patients;
• COVISHIELD â„¢: Cocktail of neutralizing antibodies against the worrisome variants of SARS-CoV-2;
• STI-5656 (Abivertinib): BTK inhibitor for the treatment of acute respiratory distress syndrome (ARDS) in hospitalized COVID patients;
• STI-8282 (COVI-MSC â„¢): Allogeneic mesenchymal stem cells for the treatment of ARDS associated with COVID in severe COVID patients; and
• Multivalent mRNA vaccines: Multivariate mRNA vaccines protecting against SARS-CoV-2 virus, alpha, beta, delta and gamma variants of concern.

Sorrento Mexico plans to establish a local research laboratory at the INMEGEN facility to ensure close collaboration between the INMEGEN and Sorrento teams for testing, clinical trials and product development related to COVID.

“We are delighted with our close collaboration with INMEGEN and intend to make Sorrento Mexico a gateway to all Latin American countries for our innovative product candidates for COVID diagnosis, vaccine and therapy”, said Henry Ji, Ph.D., president and CEO of Therapeutics of Sorrento.

About Sorrento Therapeutics, Inc.

Sorrento is a clinical-stage, antibody-focused biopharmaceutical company developing new therapies to treat cancer and COVID-19. Sorrento’s multimodal and multidimensional approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (“G-MAB â„¢ library”), immuno-therapies – clinical stage cells (“CAR-T”, “DAR-T â„¢”), antibody-drug conjugates (“ADC”) and clinical stage oncolytic virus (“Seprehvir â„¢”). Sorrento is also developing antiviral therapies and potential coronavirus vaccines, including COVIGUARD â„¢, COVI-AMG â„¢, COVISHIELD â„¢, Gene-MAb â„¢, COVI-MSC â„¢ and COVIDROPS â„¢; and diagnostic test solutions, including COVITRACK â„¢, COVI-STIX â„¢ and COVITRACE â„¢.

Sorrento’s commitment to life-enhancing therapies is also demonstrated by our efforts to advance a first-class non-opioid pain management small molecule (TRPV1 agonist), resiniferatoxin (“RTX”), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA â„¢), a new viscous gel formulation of a corticosteroid widely used for epidural injections to treat lumbosacral radicular pain, or sciatica, and to market ZTlido^® (lidocaine topical system) 1.8% for the treatment of postherpetic neuralgia. RTX has completed a Phase IB trial for intractable pain associated with cancer and a Phase 1B trial in patients with osteoarthritis. SEMDEXA is in a pivotal phase 3 trial for the treatment of lumbosacral radicular pain, or sciatica. ZTlido^® was approved by the FDA on February 28, 2018.

For more information, visit www.sorrentotherapeutics.com.

Forward-looking statements

This press release and all statements made for and during any presentation or meeting contain forward-looking statements relating to Sorrento Therapeutics, Inc., under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties. which could cause actual results to differ materially from those projected. The forward-looking statements include statements regarding Sorrento’s expectations regarding the collaboration between INMEGEN and Sorrento to conduct clinical development activities for the diagnostic, therapeutic and vaccine product candidates related to COVID-19 from Sorrento in Mexico, including testing, clinical trials and product development; the establishment of research and clinical development capacities within INMEGEN; the plan for collaboration with Mexican hospitals and clinical establishments on clinical and regulatory activities; and Sorrento’s potential position in the diagnostic, therapeutic and vaccine sectors. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements, include, without limitation: risks relating to the technologies and prospects of Sorrento and its subsidiaries, affiliates and partners and collaborations with partners, including, but not limited to, risks associated with seeking regulatory approval for Sorrento’s COVID-19 products in Mexico and Latin America; clinical development risks, including risks related to the progress, timing, costs and results of clinical trials and product development programs; risk of difficulties or delays in obtaining regulatory approvals; the risks that the results of a clinical study will not meet all or part of the parameters of a clinical study and that the data generated from these studies may not support a regulatory submission or approval; the risks that the results of previous trials, studies and trials will not be reproduced in future studies and trials; risks associated with the manufacture and supply of pharmaceutical products; risks associated with using the expertise of its employees, subsidiaries, affiliates and partners to assist Sorrento in the execution of its therapeutic drug candidate strategies; risks associated with the global impact of COVID-19; and other risks which are described in Sorrento’s most recent periodic reports filed with the Securities and Exchange Commission, including Sorrento’s annual report on Form 10-K for the fiscal year ended December 31, 2020, and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set out in those documents. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release, and we assume no obligation to update any forward-looking statements in this press release, unless the law requires it.

Media contact and investor relations
Alexis Nahama, DVM (SVP Business Development)
E-mail: mediarelations@sorrentotherapeutics.com

Sorrento^® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.

G-MAB â„¢, DAR-T â„¢, SOFUSA â„¢, COVIGUARD â„¢, COVI-AMG â„¢, COVISHIELD â„¢, Gene-MAb â„¢, COVIDROPS â„¢, COVI-MSC â„¢, COVITRACK â„¢, COVITRACE â„¢ and COVI-STIX â„¢ are trademarks of Sorrento Therapeutics, Inc.

SEMDEXA â„¢ is a trademark of Semnur Pharmaceuticals, Inc.

ZTlido^® is a registered trademark owned by Scilex Pharmaceuticals Inc.

All other trademarks are the property of their respective owners.

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