LifeSci Advisors Initiates Coverage of Sorrento Therapeutics

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NEW YORK, NY--(Marketwired - Nov 11, 2013) - LifeSci Advisors, LLC

  • Cynviloq™ has Near-Term Revenue Potential as Treatment of Metastatic Breast Cancer and Non-Small Cell Lung Cancer

  • Resiniferatoxin (RTX) offers breakthrough treatment for intractable chronic pain

  • G-MAB® Platform Provides a Fully Human Antibody Library with High Sequence Diversity and Freedom-to-Operate

  • Report Available for Download at www.lifesciadvisors.com/clients/sorrento/

LifeSci Advisors, LLC, a leading provider of investment research and investor relations services in the life sciences sector, today announced that it has initiated coverage of Sorrento Therapeutics, Inc. Sorrento (NASDAQ: SRNE) is a biopharmaceutical company with a late clinical stage oncology asset, Cynviloq™ (paclitaxel in polymeric micelle formulation) that will enter a registration trial next year. Sorrento has obtained the FDA's concurrence on pursuing a bioequivalence development strategy under the 505(b)(2) pathway versus Abraxane®, which may reduce time to approval and launch. It should position Cynviloq™ as a strong competitor in the metastatic breast cancer (MBC) and non-small cell lung cancer (NSCLC) markets. In addition to the bioequivalence study, Sorrento may expand Cynviloq™ uses in additional indications, such as bladder, ovarian, or pancreatic cancers. Sorrento has the exclusive rights to Cynviloq™ for the U.S. and European Union member countries.

"Sorrento's Cynviloq™ is the next generation of paclitaxel-based therapeutics for patient treatment," said Andrew I. McDonald, Ph.D., Founding Partner at LifeSci Advisors. "Cynviloq™ has significant market opportunity. Pursuing the bioequivalence pathway to quickly bring this treatment to market will help patients with MBC and NSCLC."

Cynviloq™ utilizes a proprietary polymeric-micelle formulation to allow for efficient delivery of the cancer drug paclitaxel (generically marketed as Taxol®) to patients. Cynviloq™ is already approved in South Korea and other countries under the name Genexol-PM® for the treatment of MBC, NSCLC, and ovarian cancer. Phase III data from an open label trial in South Korea showed statistically significant improvement in the objective response rate in patients receiving Cynviloq™ versus paclitaxel. These results are comparable to the pivotal trial submitted for Abraxane®, and suggest that Cynviloq™ should compete well with Abraxane® if approved.

Sorrento also recently acquired resiniferatoxin (RTX), a clinical stage, ultra-potent agonist of the TRPV1 receptor for the treatment of intractable chronic pain in patients with end-stage cancer. A single, intrathecal RTX injection results broad, long lasting analgesia. RTX is undergoing clinical Phase I/II testing in patients with terminal cancer at the National Institute of Health (NIH). In addition, RTX has also been studied in dogs to relieve pain originating from osteosarcoma, creating an attractive opportunity for veterinary applications as well.

Sorrento's core antibody technology platform, known as G-MAB®, is a fully human antibody library with industry-leading diversity, exceeding 10 quadrillion (1016) unique antibodies, a significant advantage over other existing libraries. The Company has identified many promising drug candidates for oncology, inflammation, and infectious disease. Preclinical data for an anti-PD-L1 antibody demonstrated anti-tumor activity in a mouse model of NSCLC, inhibiting tumor growth by 45%. G-MAB® also provides the foundation for targeted antibody-mediated drug delivery, such as antibody drug conjugates (ADCs), and antibody formulated drug conjugates (AfDCs), which can deliver a drug payload with high precision to diseased cells. Sorrento is developing ADCs and AfDCs using their own G-MAB® antibodies.

In a 53 page Initiation Report by LifeSci Advisors, we explain the development path going forward for Sorrento's programs. The report discusses the rationale for pursuing a bioequivalence pathway for Cynviloq™ and highlight clinical data supporting the safety and efficacy of the drug in MBC and NSCLC. We highlight the current market landscape for these indications and provide an in depth analysis of competing programs. We also discuss the many potential applications of the G-MAB® antibody technology, including encouraging pre-clinical studies of G-MAB® antibodies in development by Sorrento.

Dr. McDonald's full Initiation Report is available to download at no cost at the LifeSci Advisors website, www.lifesciadvisors.com. In addition to this Initiation Report, LifeSci Advisors will also provide ongoing coverage and event-based research updates on the Company as developments occur.

The LifeSci Advisors research team is led by Dr. Andrew I. McDonald, an industry veteran with more than 15 years of healthcare industry experience. Prior to co-founding LSA, Dr. McDonald was the Senior Biotechnology Analyst at Great Point Partners, a leading health care investment firm with over $500 million under management. Before Great Point, he was Co-Head of Healthcare Research and Lead Biotechnology Analyst at ThinkEquity Partners, a boutique investment banking firm focused on growth companies. Dr. McDonald holds a Ph.D. in organic chemistry from the University of California, Irvine, and, earlier in his career, worked as a medicinal chemist at both Pfizer and Cytokinetics.

About LifeSci Advisors:

LifeSci Advisors (LSA) is a leading research firm and communications consultancy dedicated to the life sciences industry. The firm provides strategic counsel, customized marketing communications, comprehensive research reports and investor relations services to companies that specialize in the discovery, development and commercialization of drugs, drug delivery systems, medical devices and diagnostics. To learn more about LSA, visit the company's website, www.lifesciadvisors.com.

Important Disclosures:

The research report described in this press release is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell securities. The securities discussed in LSA research reports may be unsuitable for some investors depending on their specific investment objectives, financial status, risk profile, or particular needs. Investors should consider LSA reports as only a single factor in making their investment decisions and should not rely solely on these reports in evaluating whether or not to buy or sell the securities of the subject company. LifeSci Advisors has been compensated by the company that is the subject of the report described and future research reports, investor relations services, and general consulting services. Please read each report's full disclosures and analyst background on the LSA website, www.lifesciadvisors.com, before investing. LifeSci Advisors is not a registered investment adviser or broker-dealer.

Forward-looking statements:

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking statements represent LSA's judgment as of the date of this release. LifeSci Advisors disclaims, however, any intent or obligation to update these forward-looking statements.

Contact:
Media
Michael Rice
Phone: (646) 597-6979
Email: mrice@lifesciadvisors.com


Sorrento Therapeutics
Mr. George Uy
Chief Commercial Officer
Phone: (858) 210-3702
Email: guy@sorrentotherapeutics.com

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