Sorrento Therapeutics In-Licenses Four Late-Stage Clinical Biobetter and Biosimilar Antibodies from Mabtech Limited

Sorrento Therapeutics, Inc.

announced today that it has entered into an exclusive licensing agreement to develop and commercialize multiple prespecified and undisclosed biosimilar or biobetter antibodies from Mabtech Limited, a holding company for premier antibody development and manufacturing companies in China. Under the terms of the agreement, Sorrento will develop and market these 4 monoclonal antibodies (mAbs) for the North American, European and Japanese market. Each of the mAbs has completed a Phase III study; two are currently in registration for marketing approval in China, while the other two are under data analyses for subsequent NDA submission in China. One of the biobetter mAbs is based on a Top 10-selling oncology drug and the other a Top 5-selling antibody to treat auto-immune diseases. Together these 4 mAbs target an established market with combined annual global sales in 2014 in excess of $13 Billion. Based on a study by GBI Research[1] the global biosimilar market could reach an estimated $55 Billion by 2020. "Combining our expertise in immunotherapy and drug development with Mabtech's experience in antibody development and commercial cGMP manufacturing positions the two companies well to increase access worldwide to biosimilars