MOUNTAIN VIEW, California,
June 6, 2013 /PRNewswire/
-- Based on its recent analysis of the oncology market, Frost
& Sullivan recognizes Sorrento Therapeutics, Inc. (OTCBB:
SRNE); (Sorrento) with the 2013 Global Frost & Sullivan
Investment Opportunity Award. In a pharmaceutical industry that is
crowded with early stage competitors aiming to develop monoclonal
antibodies (mAbs) or other novel therapeutics in oncology, Sorrento
believes it has gained an edge through a combination of factors,
including its diverse mAb library, experienced management team, and
superior ability to select and rapidly develop promising drug
targets, such as fully human anti-PD-L1 and anti-PD-1 mAbs.
One of Sorrento's key differentiators is its robust intellectual
property (IP). Its extensive patent portfolio, which positions it
to develop next-generation targeted therapeutics and nanomedicines,
includes issued patents and filed patent applications for its lead
product candidate Cynviloq™, G-MAB® library, its human
G-MAB®-derived mAbs and TOCOSOL®-PAC, as well as
groundbreaking platform technologies such as antibody formulated
drug conjugates (AfDC) and recombinant intravenous immunoglobulin
(rIVIG). Sorrento, through its pending acquisition of IGDRASOL,
Inc. has obtained the exclusive marketing and distribution rights
to Cynviloq™ in the United States
and the 27 EU member countries. Cynviloq™ is patent protected
worldwide by Samyang Biopharmaceutical Corporation, a South Korean
corporation, until 2028, preventing competitors from using similar
processes to create competitive therapeutics.
Cynviloq™ has pharmacokinetic (PK) properties amenable to
personalized dosing, allowing for an improved therapeutic index
when compared to industry leader Abraxane®, which is
marketed by Celgene Corporation. Sorrento plans to exploit
Cynviloq™ potential bioequivalence (BE) to Abraxane® to
get Cynviloq™ to the market quickly and at minimal cost using the
FDA 505(b)(2) BE application pathway that allows companies to
obtain FDA approval of new drug applications (NDAs) for
reformulations of drugs with the same active ingredient.
"Sorrento is unique in its ability to potentially have an
approved oncology product within the next few years using an
abbreviated 505(b)(2) BE pathway at a fraction of the cost of what
is spent by traditional drug development companies," noted Frost
& Sullivan Industry Analyst Justin
Collishaw. "Our independent analysis confirms that other
competitors lack similar near-term approvable therapies, which may
be able to generate revenues in the next three to four years."
Sorrento, through its IGDRASOL acquisition, also secured EU
distribution rights, which give Sorrento the flexibility to form
alliances with multinational companies seeking late-stage drug
products to fill in gaps in their pipeline. In addition, Sorrento
is moving forward in the field of true personalized medicine with
the development of Therapeutic Drug Monitoring (TDM), which will
complement and expand the Cynviloq™ franchise in the market.
Sorrento's next strength lies in its outstanding management team
that boasts an impressive track record of long-term vision and
timely execution. Such an industry-leading management team will
help Sorrento's valuable products reach their full potential.
"Partnership with large pharma could accelerate Sorrento's
development program and broaden its portfolio into inflammation and
infectious diseases," noted Collishaw. "As a publicly traded
company, Sorrento has the added advantage of access to the public
investment market."
Sorrento is further consolidating its market position by
targeting therapeutic areas with an unmet need. The company is
selecting antibody candidates that have strong market potential,
such as
PD-L1, PD-1, as well as G protein-coupled receptor (GPCR)
antibodies for immunotherapy in oncology. It is also improving upon
already approved therapies through its proprietary AfDC process.
This enables Sorrento to capitalize on the familiarity and success
of predecessors, such as Herceptin® or
Erbitux®, while competitors are developing therapies
from scratch, thus creating greater difficulty in establishing
familiarity.
Overall, Sorrento's strength of IP, expert management team,
funding history, market growth and positioning, expansion strategy,
and product differentiation capabilities make it a worthy recipient
of the 2013 Frost & Sullivan Global Investment Opportunity
Award.
Frost & Sullivan Best Practices Awards recognize companies
in a variety of regional and global markets for demonstrating
outstanding achievement and superior performance in areas such as
leadership, technological innovation, customer service, and
strategic product development. Industry analysts compare market
participants and measure performance through in-depth interviews,
analysis, and extensive secondary research in order to identify
best practices in the industry.
About Sorrento Therapeutics, Inc.
Sorrento Therapeutics, Inc. is a publicly-traded,
development-stage biopharmaceutical company focused on the
acquisition, discovery, development and commercialization of novel
and proprietary therapeutics for the treatment of a variety of
disease conditions, including cancer, inflammation, and infectious
diseases. Sorrento's objective is to develop and commercialize its
late-stage, oncolytic drug candidate – Cynviloq™ – for multiple
cancer indications, to identify drug development candidates derived
from its proprietary human antibody libraries and, either
independently or through partnerships, advance selected targets
into preclinical or clinical development. Sorrento intends to
select several lead product candidates to progress into preclinical
development activities in 2013, including human anti-PD-L1 and
anti-PD-1 monoclonal antibodies (mAbs) that have demonstrated
strong immunomodulatory activity in vitro comparable to competitor
mAbs currently in clinical development as well as significant
anti-cancer activity in a tumor mouse model.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in
collaboration with clients to leverage visionary innovation that
addresses the global challenges and related growth opportunities
that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these
opportunities and incorporating two key elements driving visionary
innovation: The Integrated Value Proposition and The Partnership
Infrastructure.
- The Integrated Value Proposition provides support
to our clients throughout all phases of their journey to visionary
innovation including: research, analysis, strategy, vision,
innovation and implementation.
- The Partnership Infrastructure is entirely unique
as it constructs the foundation upon which visionary innovation
becomes possible. This includes our 360 degree research,
comprehensive industry coverage, career best practices as well as
our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth
strategies for the global 1000, emerging businesses, the public
sector and the investment community. Is your organization prepared
for the next profound wave of industry convergence, disruptive
technologies, increasing competitive intensity, Mega Trends,
breakthrough best practices, changing customer dynamics and
emerging economies?
Contact Us: Start the discussion
Join
Us:
Join our community
Subscribe: Newsletter on "the
next big thing"
Register: Gain access to
visionary innovation
Contact:
Mireya Espinoza
P: +1-210-247-3870
F: +1-210-348-1003
E: mireya.espinoza@frost.com