Investor Alert

press release

Nov. 12, 2021, 3:20 p.m. EST

Sorrento Therapeutics Mexico to Partner with the World Boxing Council for the Screening of COVID-19 of all Convention Attendees with COVI-STIX at the 59th World Boxing Council Convention in Mexico City

SAN DIEGO and MEXICO CITY, Nov 12, 2021 (GLOBE NEWSWIRE via COMTEX) -- SAN DIEGO and MEXICO CITY, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. /zigman2/quotes/205669265/composite SRNE +5.31% and the World Boxing Council ("WBC") announced today that Sorrento's COVI-STIX COVID-19 Virus Rapid Antigen Detection Test ("COVI-STIX") will be used for screening all attendees of the upcoming 59 [th] World Boxing Council Annual Convention in Mexico City, Mexico (November 14 [th] through November 18 [th] ).

The pandemic brought the world to a standstill and while most sports froze, boxing remained active through efforts by promoters, boxing commissions and the WBC. Boxing leads the world of sports in administrative and medical protocols to allow boxing matches to be held in bubbles without fans present.

Testing is and should remain a major factor for the successful organization of any public event, including boxing events with audiences present at maximum capacity.

Sorrento Therapeutics Mexico has teamed with the WBC to provide COVI-STIX rapid testing for the event and have together committed to be very active in providing solutions to the boxing industry, as well as other sports and entertainment focused events.

COVI-STIX tests will be administered to all convention attendees prior to registration and a local testing laboratory will provide testing and travel certificates to all foreign visitors requiring proof of testing for international travel.

Many superstars will be in Mexico City to attend the "Together Again" convention, including Floyd Mayweather, Julio Cesar Chavez, Oscar De La Hoya, Larry Holmes, Roberto Duran and Antonio Tarver, among many other heroes from yesterday and today who will be in attendance, including boxing's biggest superstar Canelo Alvarez.

For information regarding the WBC convention, please refer to WBC's website at https://wbcboxing.com/en/info-about-wbc-convention-59/ or send an email to contact@wbcboxing.com .

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 fully human antibodies ("G-MAB(TM) library"), immuno-cellular therapies ("DAR-T(TM)"), antibody-drug conjugates ("ADCs"), and oncolytic virus ("Seprehvec(TM)"). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including Abivertinib, COVIGUARD(TM), COVI-AMG(TM), COVISHIELD(TM), COVI-MSC(TM) and COVIDROPS(TM); and diagnostic test solutions, including COVITRACK(TM), COVISTIX(TM) and COVITRACE(TM).

Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin ("RTX"), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA(TM)), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, and to commercialize ZTlido [(R)] (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX has completed a Phase IB trial for intractable pain associated with cancer and a Phase 1B trial in osteoarthritis patients. SEMDEXA is in a pivotal Phase 3 trial for the treatment of lumbosacral radicular pain, or sciatica. ZTlido [(R)] was approved by the FDA on February 28, 2018.

For more information visit www.sorrentotherapeutics.com .

About the World Boxing Convention (WBC)

The WBC Convention is the largest boxing convention in the world. The great and the good from every aspect of the sport attend, from boxers to referees judges, promoters, managers doctors and many more.

The annual convention unites delegates from all member-countries and key boxers from all over the world. During the convention, participants discuss topical issues, plans and future fights. Current champions often find out their rivals and the candidates for the championship title.

Rules are reviewed and grievances are heard. The convention deals with the previous 12 months and the next 12 months and all the issues of the day are heard and discussed during open sessions in a transparent and democratic process.

The World Boxing Council Convention is guided by the WBC Board of Governors from all of the World Regions and its president, Mauricio Sulaiman.

For more information, visit www.wbcboxing.com .

Forward-Looking Statements

This press release and any statements made for and during any presentation or meeting contain forward-looking statements related to Sorrento Therapeutics, Inc., under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding COVI-STIX; the performance capabilities of COVI-STIX; the planned use of COVI-STIX to screen convention attendees at the World Boxing Council Convention; and Sorrento's potential position in the diagnostics industry. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks related to Sorrento's and its subsidiaries', affiliates' and partners' technologies and prospects and collaborations with partners, including, but not limited to risks related to COVI-STIX; risks of manufacturing and supplying COVI-STIX; risks related to leveraging the expertise of its employees, subsidiaries, affiliates and partners to assist the company in the execution of its COVID-19 product candidates' strategies; risks related to the global impact of COVID-19; and other risks that are described in Sorrento's most recent periodic reports filed with the Securities and Exchange Commission, including Sorrento's Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law.

Media and Investor Relations Contact
Dorman Followwill
Email: mediarelations@sorrentotherapeutics.com

Sorrento [(R)] and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.


SEMDEXA(TM) is a trademark of Semnur Pharmaceuticals, Inc.

ZTlido [(R)] is a registered trademark owned by Scilex Pharmaceuticals Inc.

All other trademarks are the property of their respective owners.

(C)2021 Sorrento Therapeutics, Inc. All Rights Reserved.


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