Sorrento to Host Webcast to Discuss Newly Presented Clinical Data Demonstrating Significant Improvements in Therapeutic Outcomes in 10 of 10 Patients with Poorly Controlled Rheumatoid Arthritis

2022-11-13

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ATLANTA and SAN DIEGO, Nov. 13, 2022 (GLOBE NEWSWIRE) -- Sofusa®, a wholly-owned division of Sorrento Therapeutics (Nasdaq: SRNE, “Sorrento”), today announced that it will host a virtual Key Opinion Leader (KOL) panel discussion titled “Empowering the Lymphatics: Unleashing the Potential of Biologics that Target the Immune System” to be held on Thursday, November 17, 2022 at 11:30 AM EST.

The event will feature a deep dive and discussion of the clinical study design and clinical data demonstrating improved therapeutic outcomes and lymphatic functioning in rheumatoid arthritis (RA) patients receiving the Sofusa Lymphatic Drug Delivery System (Sofusa) treatment. Patients who were enrolled in this study had inadequate response to the standard dose of an approved TNF inhibitor TNF inhibitor subcutaneous (SC) treatment, and 10 of 10 patients achieved a significant improvement in disease activity and lymphatic function following initiation of Sofusa lymphatic treatment, with dose levels at half of the prior SC dose or less. This data was accepted and presented today at the American College of Rheumatology (ACR) Convergence 2022 meeting in Philadelphia.

Chris Jeffers, Ph.D., J.D., Chief Executive Officer of Mayflower BioVentures and Hibiscus BioTechnology, will moderate this panel discussion following the ACR conference. Speakers for the event include:

Roel Querubin, M.D., Board Certified Rheumatologist, Atlanta Research Center for Rheumatology and Marrieta Rheumatology Associates

Vibeke Strand, M.D. Adjunct Clinical Professor, Division of Immunology and Rheumatology, Stanford University School of Medicine

Mike Royal, M.D., Chief Medical Officer, Sorrento

Brian Cooley, Senior Vice President, Head of Sofusa Lymphatic Drug Development

Russell Ross, Ph.D., Chief Technical Officer, Sofusa Lymphatic Drug Development

To register for the live event, please visit the Online Experiences website. Detailed biographies for all the speakers can be accessed here.

Following the live webcast, an archived replay will be available on the Company’s website at Events Calendar - Sorrento Therapeutics.

About Sorrento’s Sofusa Business Unit

The Sofusa Business Unit is a wholly owned division of Sorrento based in Atlanta, Georgia and is focused on lymphatic drug development with pre-clinical, analytical, clinical development, and device manufacturing capabilities. The Sofusa platform is a novel microneedle technology that delivers both small and large molecule drugs through the skin and into the initial lymphatic capillaries resulting in significantly higher drug concentrations in lymph nodes over sustained periods of time compared to traditional injections or infusions. Drug targets for many diseases of the immune system (e.g., autoimmune diseases and cancer) reside in the lymphatic system and lymph nodes. In multiple pre-clinical models, Sofusa’s proprietary nanotopography-draped microneedle system has consistently demonstrated the ability to improve therapeutic responses by delivering over 40-fold increases in drug concentration to targeted lymph nodes when compared to traditional subcutaneous injections or intravenous infusions. The Sofusa Business Unit is currently conducting human proof of concept studies in autoimmune disease and in cancer.

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 immunooncology platforms, including key assets such as next-generation tyrosine kinase inhibitors (“TKIs”), 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 STI-1558, Abivertinib, COVISHIELD™ and COVIDROPS™; and diagnostic test solutions, including COVIMARK™.

Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a (TRPV1 agonist 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 the expectations for Sorrento's and its subsidiaries' technologies and product candidates, including clinical trial results. 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 and its subsidiaries', affiliates’ and partners’ technologies and prospects and collaborations with partners; risks related to seeking regulatory approvals and conducting clinical trials; 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 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 Cooley

Email: 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.