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 former Roche
Laboratories executive, Tammy Reilly, to Sorrento’s board of
directors. Ms. Reilly brings more than 30 years of life science,
big pharma and operating leadership experience within healthcare
therapeutics, consumer merchandising and healthcare diagnostic
companies to Sorrento.
“Sorrento continues to strengthen its already experienced board
of directors,” said Henry Ji, Ph.D., Chairman and Chief Executive
Officer of Sorrento. “We are excited to welcome Tammy who is a
proven executive and entrepreneur. Tammy brings deep business and
operating experience in innovative therapeutics, consumer
merchandising and diagnostics, which will complement the existing
capabilities of our board in several key areas. With the pivotal
progress we have made with our late-stage clinical programs and the
diagnostics commercialization underway worldwide, this is an
important time for Sorrento and we look forward to continuing on
our mission of advancing promising new targeted therapies and
diagnostics for a vast majority of patients of all ages.”
Ms. Reilly is the managing partner of a life sciences advisory
company, TRDx LLC, an independent firm that she founded 15 years
ago to advise life science companies on life cycle management and
business development solutions, which includes advice on mergers
and acquisitions and strategic and capital markets transactions.
Prior to founding TRDx, Ms. Reilly spent nine years as a founder
and Managing Partner of Real Life Products LLC, a consumer
merchandising and manufacturing company that launched and sold six
patented products via e-commerce and major retail chains, including
Walmart, Home Depot and Amazon. From 2004 to 2008, she served as
Chief Commercial Officer of XDx, Inc., which is now known as
CareDx, Inc. Prior to this, Ms. Reilly served in various roles at
Roche Laboratories for over 14 years, including sales and marketing
leadership positions and most recently in 2005 as Executive Vice
President for Oncology and Dermatology at Roche, managing a
business with over $1 billion in revenue. In 2000, Ms. Reilly was
named Healthcare Businesswomen Association Rising Star. Ms.
Reilly holds a B.S. degree in Special Education with a minor
in Psychology and a MBA from the University of Delaware.
“I am thrilled to be part of Sorrento’s bold vision to redefine
cancer, immunology and virology drug development and to advance
innovative targeted therapies and diagnostics for patients in
need,” said Ms. Reilly. “As the Company enters late-stage clinical
development for its lead programs and commercialized diagnostics
worldwide, I look forward to working with Sorrento’s talented
management team and board who share a strong expertise and
commitment to my passion of advancing novel diagnostics and
breakthrough drug development therapeutics in high unmet need
areas. Sorrento has a highly unique portfolio of very valuable
assets and a team of incredibly talented and innovative scientists.
I am honored to have the opportunity to work with them.”
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 post-herpetic 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 Ms. Reilly’s expected contributions to
Sorrento. 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 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 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 Reports on
Form 10-Q]1 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™, and COVIMARK™ are 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.
©2022 Sorrento Therapeutics, Inc. All Rights
Reserved.
1 Include if the press release is issued after the Q1 10-Q
filing
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sorrento Therapeutics (NASDAQ:SRNE)
Historical Stock Chart
From Apr 2023 to Apr 2024