Sorrento Therapeutics, Inc. announces a $4.6 Million U.S. Government contract from the NIAID for a Sensitive, Reusable, and Rapid Diagnostic Platform for Pandemic Preparedness - Seite 2

“We are pleased to accept this award and collaboration with the U.S. Government to ensure that, as a society, we are better prepared for the next pandemic. This award validates our unique approach of combining antibody development and electrochemical-based diagnostics for a rapid response to save lives and manage infectious disease outbreaks,” stated Henry Ji, Ph.D., Chairman and CEO of Sorrento.

"This project has been funded in whole or in part with Federal funds from the National Institute of Allergy and Infectious Diseases, National Institutes of Health, Department of Health and Human Services, under Contract No. 75N93023C00024".

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 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 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 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.