SORRENTO COLLABORATES WITH MABPHARM ON DEVELOPMENT AND COMMERCIALIZATION OF ACE-MAB TO POTENTIALLY TREAT COVID-19

• ACE-MAB^TM is a proprietary bi-specific fusion protein that binds to the spike protein of coronaviruses, including SARS-CoV-2 and SARS-CoV, which is expected to block SARS-CoV-2 from binding and infecting respiratory epithelial cells or ACE2-expressing cells to interrupt the viral life cycle
  
• ACE-MAB is in the cGMP cell line development stage by our strategic partner, Mabpharm Limited, and could be ready for large-scale production in Mabpharm’s 30,000 m² cGMP facilities in China for human clinical trials and commercialization upon receipt of requisite regulatory approvals
• Sorrento has been granted an exclusive license to develop and commercialize the ACE-MAB product candidate in the North American and European markets

SAN DIEGO, March 24, 2020 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced it has entered into an exclusive license agreement with China-based antibody biopharmaceutical company, Mabpharm Limited (Hong Kong Stock Exchange: 2181HK, “Mabpharm”), for the clinical development and commercialization of the ACE-MAB fusion protein (Sorrento’s product code name STI-4920 and Mabpharm’s product code name CMAB020) for the potential treatment of COVID-19, the disease caused by the SARS-CoV-2 virus. Mabpharm has generated a fusion protein (CMAB020) that binds to the spike protein of the SARS-CoV-2 virus.

Designed as a bi-specific fusion protein, ACE-MAB has two functional arms. One arm (Ab) is a fully human antibody that targets the spike protein of SARS-CoV-2 with high affinity. The other arm (TR) is a truncated ACE2 protein that binds to a different epitope of the spike protein. The ACE-MAB fusion protein could also block the receptor binding domain (RBD) with CD147 to mitigate lung inflammation and cytokine storm. The dual-arm design could be a unique advancement, potentially providing binding to the SARS-CoV-2 virus that is sufficient to prevent the virus from invading normal human cells. ACE-MAB retains the ACE2 enzymatic function, which could provide benefits such as reduced vasoconstriction and increased blood flow to infected lung tissue. The ACE2 arm competes with RBD binding to respiratory epithelial or other cells. It should preserve the ACE2 enzymatic activity, which is important in maintaining normal blood pressure and healthy blood flow into patients with infected lung tissue, which would include patients with advanced COVID-19 disease.