Frost & Sullivan Lauds Sorrento Therapeutics for Making Strides in the Global Biopharmaceutical Market

LONDON, June 9, 2010 - Based on its recent research, Frost & Sullivan presents Sorrento
Therapeutics Inc. (Sorrento Therapeutics) with the 2010 Global
Biopharmaceutical Emerging Company of the Year Award. The human monoclonal
antibodies (mAbs) market is teeming with opportunities and was worth nearly
US$30 billion in 2009, growing at a healthy double digit rate of around 20
per cent. With an increasing number of mAbs attaining blockbuster status,
pharmaceutical and biotech companies have been flocking to this market.

(Logo: photos.prnewswire.com/prnh/20081117/FSLOGO)

"In the competitive mAbs market, companies aim to be distinctive by
developing enhanced technologies and processes," says Frost & Sullivan
Industry Analyst Arun A. K. "Sorrento has constructed one of the largest mAbs
libraries with industry-leading diversity, fully human and full-length mAbs
that could be either commercialised or used for developing their own
therapeutic candidates."

Another opportunity that has opened up for the Company is collaboration
with leading industry participants. Since 2006 a number of deals were signed
between a major pharmaceutical/biotech company and an antibody-centric
biopharmaceutical company, illustrating the considerable opportunities for a
proven mAb technology.

Sorrento Therapeutics has developed a ribonucleic acid (RNA)
transcription-based amplification technology called STI Technology, which has
competitive benefits over traditional PCR-based amplification methods for
constructing antibody libraries. Unlike polymerase chain reaction (PCR), the
STI Technology amplifies large numbers of different immunoglobulin variable
domain sequences in parallel to generate human antibody libraries of vast
diversity.

Sorrento Therapeutics also enables full mammalian display of mAbs and an
efficient production system, thus, widens its commercial opportunities. Apart
from these technical advantages, this technology can be easily adopted upon
licensing without the Intellectual Property (IP)-related issues that are
common with competing technologies.

"Further, Sorrento Therapeutics is taking great strides in enhancing its
visibility," notes Arun. "It has hired an experienced business development
professional from the antibody industry to promote and develop its business."

At present, the company is in talks with numerous enterprises to explore
commercial opportunities. Besides this, it is committed to participating in
major industry conferences to showcase and popularise its technology.

Each year, Frost & Sullivan presents this award to a company that has
emerged as a significant participant in the industry. The Award is based on
numerous factors including the company's business development, competitive
strategy, and leadership within a particular Frost & Sullivan Industry
Research Group (IRG). This company is perceived to exhibit outstanding
management, high growth, and positive social and economic impact on local and
national communities and customers. Exceptional customer service has been
noted as crucial to success, coupled with the ability to combine technology
and successful strategic initiatives. The Award recipient has also
demonstrated superior market growth skills through significant gains in the
market during the research period. This company has the exceptional know-how
to take advantage of market changes through the execution of innovative
strategies within the existing competitive landscape.

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

Sorrento Therapeutics Inc. is a developmental stage biopharmaceutical
company focused on discovery and development of human therapeutic antibodies
for the treatment of a variety of disease conditions based on its proprietary
technology platform. Established in 2006, Sorrento has invested in
constructing human antibody libraries which will facilitate the rapid
identification and isolation of highly specific mAbs for therapeutic
purposes.

    Sorrento Therapeutics Contact Information
    Henry Ji, Ph.D.
    Chief Scientific Officer
    Sorrento Therapeutics, Inc.
    6042 Cornerstone Court West, Suite B
    San Diego, CA 92121
    U.S.A.
    Tel: +1-858-210-3701
    Fax: +1-858-210-3759
    Email: hji@sorrentotherapeutics.com
    Website: www.sorrentotherapeutics.com

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to
accelerate growth and achieve best-in-class positions in growth, innovation
and leadership. The company's Growth Partnership Service provides the CEO and
the CEO's Growth Team with disciplined research and best-practice models to
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please visit www.awards.frost.com.

    Frost & Sullivan Contact Information
    Jasmine Malone - Promotions Coordinator
    Phone: +44-207-915-7869
    E-Mail:jasmine.malone@frost.com

Henry Ji, Ph.D., Chief Scientific Officer of Sorrento Therapeutics, Inc., +1-858-210-3701, Fax, +1-858-210-3759, hji at sorrentotherapeutics.com; or Jasmine Malone, Promotions Coordinator of Frost & Sullivan, +44-207-915-7869, jasmine.malone at frost.com