SAN DIEGO, June 6, 2013 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTCBB: SRNE) today announced that it has been awarded the 2013 Frost & Sullivan Global Investment Opportunity Award in Oncology.
In the citation for the 2013 Global Investment Opportunity Award in Oncology, Frost & Sullivan highlights Sorrento's diverse G-MAB® library technology, the experienced management team, and its ability to select and rapidly develop promising drug candidates, such as the late-stage oncolytic product candidate Cynviloq™—a next-generation branded paclitaxel formulation to be exclusively marketed and distributed by IGDRASOL, Inc. in the U.S. and 27 EU countries, if approved—and fully human anti-PD-L1 and anti-PD-1 monoclonal antibodies (mAbs) in oncology. Sorrento has the right to acquire IGDRASOL pursuant to a previously announced option agreement, entered into in March 2013. Taken together, these unique characteristics make "Sorrento Therapeutics the rightful recipient of the 2013 Frost & Sullivan Global Investment Opportunity Award" as the award report concludes.
"We are honored that the distinguished and independent global analyst firm Frost & Sullivan has recognized our achievements as well as our potential, and emphasizes the value our technologies and expertise have created," said Henry Ji , Ph.D., Sorrento's president and CEO. "We believe this award validates our corporate strategy. We are rapidly moving forward to develop our lead product candidates, including Cynviloq™ and our fully human antibody drug candidates targeting PD-L1 and PD-1, which we believe are very promising and exciting targets in the fast-growing market of immunomodulatory cancer therapy."
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|SOURCE Sorrento Therapeutics, Inc.|
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