Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), a
commercial and clinical-stage biopharmaceutical company dedicated
to developing and commercializing targeted therapies and
diagnostics, announced today the appointment of the Honorable Tommy
G. Thompson, former Secretary of the United States Department of
Health and Human Services (“HHS”) and former Governor of Wisconsin,
as Covid-19 special consultant to Sorrento’s Chairman and CEO Henry
Ji. Governor Thompson’s appointment is effective immediately.
Most recently, Thompson served as the President of the
University of Wisconsin System from July 2020 through March 2022,
one of the largest university systems in the country with 39K
employees and a $6 billion dollar budget serving 162,000 enrollees
at 13 campuses. During his tenure, Thompson successfully
utilized his experience as the former Secretary of HHS to gather
the data necessary to provide the insights needed to assure all
campuses opened with the resources needed to provide a safe
in-person learning environment.
Governor Thompson currently serves as the Chief Executive
Officer of Thompson Holdings, a consulting firm. Before entering
the private sector in 2005, Governor Thompson enjoyed a long and
distinguished career in public service. He served four terms as
Governor of Wisconsin from 1987 to 2001 and as Secretary of HHS
from 2001 to 2005, where he was a leading advocate for the health
and welfare of all Americans. From 2005 to 2012, Governor Thompson
was a partner at the law firm of Akin Gump Strauss Hauer & Feld
LLP in Washington, D.C. He has also served as the Independent
Chairman of the Deloitte Center for Health Solutions, which
researches and develops solutions to some of our nation's most
pressing health care and public health related challenges.
Currently, Governor Thompson also serves as chairman of the board
of directors of TherapeuticsMD, Inc., and a member of the board of
directors of United Therapeutics Corporation. He previously served
on the boards of directors of various other public companies,
including Centene Corporation, CareView Communications, Inc., and
C.R. Bard, Inc. and continues to focus on developing solutions to
the issues challenging the U.S. health care system.
“I am excited to see the progress of COVID-19 program (STI-1558)
advancing to the clinical stage and Sorrento continues its
commitment to develop and deliver effective anti-COVID-19 therapies
to save patient lives and end the pandemic,” said Honorable Tommy
G. Thompson. “I believe that it could be the best-in-class oral
antiviral therapeutic for COVID-19, appropriate for patients taking
multiple medications, without requiring extra monitoring or dose
adjustments.”
“We are very excited to have the Honorable Tommy G. Thompson
joining our team on a consulting basis to advise me on COVID-19
matters. Mr. Thompson’s knowledge and experience will prove to be
an invaluable asset in our continuing efforts to improve the
healthcare situation in the U.S. and internationally, particularly
in the areas of preventative, therapeutic and overall medical
approaches, concepts and solutions towards COVID-19, and public
policy and government affairs relating to COVID-19,” said Henry Ji,
Ph.D., Executive Chairman of Scilex Holding Company and Chairman
and Chief Executive Officer of Sorrento.
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, COVISHIELD™ and COVI-MSC™;
and diagnostic test solutions, including COVIMARK™.
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 postherpetic
neuralgia (PHN). RTX has been cleared for a Phase II trial for
intractable pain associated with cancer and a Phase II trial in
osteoarthritis patients. Positive final results from the Phase III
Pivotal Trial C.L.E.A.R. Program for SEMDEXA™, its novel,
non-opioid product for the treatment of lumbosacral radicular pain
(sciatica), were announced in March 2022. ZTlido® was approved by
the FDA on February 28, 2018.
For more information visit www.sorrentotherapeutics.com
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 mission, vision and portfolio of assets and
the development thereof and Mr. Thompson’s expected contributions
to Sorrento as a special consultant. 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
safety and efficacy of STI-1558 and seeking regulatory approval for
STI-1558; 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 continuing or 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 product
candidates’ 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, 2021 and subsequent Quarterly Report 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 Contact: Brian
CooleyEmail: mediarelations@sorrentotherapeutics.com
Sorrento® and the Sorrento logo are registered trademarks of
Sorrento Therapeutics, Inc.
G-MAB™, DAR-T™, Seprehvec™, SOFUSA™, COVISHIELD™, COVIDROPS™,
COVI-MSC™, COVIMARK™ and Fujovee™ are trademarks of Sorrento
Therapeutics, Inc.
SEMDEXA™ (SP-102) is a trademark of Semnur Pharmaceuticals, Inc.
A proprietary name review by the FDA is planned.
ZTlido® is a registered trademark owned by Scilex
Pharmaceuticals Inc.
All other trademarks are the property of their respective
owners.
©2022 Sorrento Therapeutics, Inc. All Rights Reserved.
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