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

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.