Sorrento Therapeutics Welcomes Jiong Shao as Chief Financial Officer and Reaffirms Intent to Seek Nasdaq/HKSE Dual Listing in...
March 19 2018 - 8:00AM
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) ("Sorrento") announced
today that it appointed Mr Jiong Shao as Executive Vice President
and Chief Financial Officer.
Jiong is an 18-year veteran in investment banking who has held a
number of senior positions with several global leading investment
banks in both New York and Hong Kong.
During his banking career, Jiong led a number of financing
transactions including IPOs in both the New York and Hong Kong
capital markets, serving key corporations including Tencent,
Alibaba, and Baidu. He helped to raise billions of dollars
from investors in support of those companies. Specifically, from
2015 to 2017, Jiong served as Managing Director, Head of China
Technology, Internet, and Media (TIM) investment banking at
Deutsche Bank in Hong Kong. Prior to that time, from 2010 to 2015,
he held various Managing Director positions at Macquarie Capital
including Head of China TIM investment banking and Head of pan-Asia
TIM research, also in Hong Kong.
Jiong started his investment banking career with Lehman Brothers
in New York as an equity research analyst covering global leading
technology companies, including Cisco, and he was ranked as a top
analyst by institutional investors over multiple years. Jiong holds
a Bachelor of Engineering from Shanghai Jiaotong University and an
MBA from Duke University.
“I am excited to join the Sorrento leadership team,” said Mr
Shao. “I am impressed by the vision and quality of the team, and I
strongly believe its shares are currently substantially
under-valued. I look forward to bringing years of investment
banking relationships and financial expertise towards building
shareholder value in line with the upside potential of its assets
in development.”
“We are pleased to welcome Jiong to our executive management
team,” said Dr Henry Ji, Chairman and CEO for Sorrento
Therapeutics. “His deep understanding of the global capital markets
and institutional investor base, as well as his expertise in
executing large size financing transactions will be instrumental to
Sorrento’s potential Nasdaq/HSKE dual-listing in the near
future.”
About Sorrento Therapeutics, Inc.
Sorrento is a clinical stage, antibody-centric,
biopharmaceutical company developing new therapies to turn
malignant cancers into manageable and possibly curable diseases.
Sorrento's multimodal multipronged approach to fighting cancer is
made possible by its’ extensive immuno-oncology platforms,
including key assets such as fully human antibodies (“G-MAB™
library”), clinical stage immuno-cellular therapies (“CAR-T”),
intracellular targeting antibodies (“iTAbs”), antibody-drug
conjugates (“ADC”), and clinical stage oncolytic virus
(“Sephrevir®”).
Sorrento's commitment to life-enhancing therapies for cancer
patients is also demonstrated by our effort to advance a
first-in-class (TRPV1 agonist) non-opioid pain management small
molecule in Resiniferatoxin (“RTX”) and ZTlido™. Resiniferatoxin is
completing a phase IB trial in terminal cancer patients. ZTlido is
in regulatory review following NDA re-submission.
For more information visit www.sorrentotherapeutics.com
Forward-Looking Statements
This press release contains forward-looking statements related
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 that could cause actual
results to differ materially from those projected. Forward-looking
statements include statements about Sorrento’s prospects,
including, but not limited to any statements about any
aforementioned products and technologies of Sorrento and its
subsidiaries; Sorrento’s ability to leverage the expertise of
its employees and partners to assist the company in the execution
of its strategies; Sorrento’s intent and ability to list in any
stock exchange; and other matters that are described in Sorrento's
Annual Report on Form 10-K for the year ended December 31, 2017,
and subsequent Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission, including the risk factors set
forth in those filings. Investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release and we undertake no obligation to
update any forward-looking statement in this press release except
as required by law.
Media and Investor RelationsContact: Alexis
Nahama, DVM (VP Corporate Development)Telephone:
1.858.203.4120Email: mediarelations@sorrentotherapeutics.com
Sorrento® and the Sorrento logo are registered trademarks of
Sorrento Therapeutics, Inc.ZTlido™ and G-MAB™ are trademarks owned
by Scilex Pharmaceuticals, Inc. and Sorrento,
respectively.Seprehvir®, is a registered trademark of
Virttu Biologics Limited, a wholly-owned subsidiary of TNK
Therapeutics, Inc. and part of the group of companies owned by
Sorrento Therapeutics, Inc.All other trademarks are the property of
their respective owners.© 2018 Sorrento Therapeutics, Inc. All
Rights Reserved.
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