Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") announced today that it has notified The Texas A&M University System (“TAMUS”) of its exercise of the option to an exclusive license for the global development and commercialization of highly potent main protease (MPro) inhibitors against SARS-CoV-2 and all current and emerging variants of concern (VOCs). Sorrento and TAMUS previously announced the signing of the option agreement on August 24th and 25th, respectively:

Sorrento’s decision to immediately exercise its option is based on very promising preclinical data for the lead compound, MPI8, that shows highly potent broad-spectrum antiviral activity against SARS-CoV-2 and all of the major Variants of Concern (VoCs) (alpha, beta, delta and gamma). Based on initial in vitro data, MPI8 demonstrated superior antiviral activity in a head-to-head comparison with a current Phase 3 investigational oral antiviral agent (EIDD2801). Based on the IC50 data of the Plague Reduction Neutralization Test (PRNT) of live virus infecting Vero E6 cells, MPI8 demonstrated approximately ten-fold (10x) higher antiviral potency than EIDD-2801 against SARS-CoV-2 and its Alpha (UK) and Delta (Indian) VoCs and three to seven-fold (3-7x) higher antiviral potency against Beta (South Africa, 3X) and Gamma (Brazil/Japan, 6-7X) VoCs.

Sorrento expects to complete additional preclinical studies in the coming weeks, including a head-to-head comparison against other late-stage clinical candidates, and will publish its preliminary findings in a pre-print publication.

About Sorrento Therapeutics, Inc.

Sorrento is a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and COVID-19. 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”), immuno-cellular therapies (“DAR-T™”), antibody-drug conjugates (“ADCs”), and oncolytic virus (“Seprehvec™”). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including Abivertinib, COVIGUARD™, COVI-AMG™, COVISHIELD™, COVI-MSC™ and COVIDROPS™; and diagnostic test solutions, including COVITRACK™, COVISTIX™ and COVITRACE™.

Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin (“RTX”), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA™), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, and to commercialize ZTlido® (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX has completed a Phase IB trial for intractable pain associated with cancer and a Phase 1B trial in osteoarthritis patients. 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.

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Forward-Looking Statements

This press release and any statements made for and during any presentation or meeting contain 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 regarding Sorrento’s pipeline and plans with respect to its preclinical and clinical COVID-19 programs, including the MPro inhibitors to which Sorrento has certain exclusive license option rights; the antiviral properties of these MPro inhibitors, including MPI8, and the potential advantage the MPro inhibitors offer against SARS-CoV-2, its variants of concern and other coronaviruses; and Sorrento’s plans to develop the MPro inhibitors to address COVID-19 and other respiratory viruses. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks related to Sorrento's technologies and prospects, including, but not limited to risks related to seeking regulatory approval for MPro inhibitors against SARS-CoV-2, its variants of concern and other respiratory viruses; clinical development risks, including risks in the progress, timing, cost, and results of clinical trials and product development programs; risk of difficulties or delays in obtaining regulatory approvals; risks that clinical study results may not meet any or all endpoints of a clinical study and that any data generated from such studies may not support a regulatory submission or approval; risks that prior test, study and trial results may not be replicated in future studies and trials; risks of manufacturing and supplying drug product; risks related to leveraging the expertise of its employees, subsidiaries, affiliates and partners to assist Sorrento in the execution of its therapeutic antibody product candidate strategies; risks related to the global impact of COVID-19; and other risks that 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 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 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 Relations ContactAlexis Nahama, DVM (SVP Corporate Development)Email:

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


SEMDEXA™ 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.

©2021 Sorrento Therapeutics, Inc. All Rights Reserved.

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