Sorrento Therapeutics and Scilex Holding, a Majority Owned Subsidiary, Have Entered Into an Exclusive Licensing Term Sheet With Aardvark Therapeutics to Acquire Its ARD-301 For the Treatment of Chronic Pain, Fibromyalgia, and Chronic Long Haul Covid Syndrome

SAN DIEGO, Calif., March 01, 2021 (GLOBE NEWSWIRE) — Sorrento Therapeutics (NASDAQ: SRNE, “Sorrento”) and Scilex Holdings Company (“Scilex”), a majority owned subsidiary of Sorrento, have entered into an exclusive licensing term sheet with Aardvark Therapeutics (“Aardvark”) to acquire Aardvark’s proprietary formulation, Delayed Burst Release Low Dose Naltrexone (DBR-LDN), or ARD-301, for the treatment of chronic pain, fibromyalgia, and chronic post-COVID syndrome (“long haul COVID” or “long COVID”) in multiple Phase 2 programs planned to be initiated this year.