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Sorrento Therapeutics engaged advisors for exploring strategic alternatives

SAN DIEGO, May 9, 2016 /PRNewswire/ -- Sorrento Therapeutics, Inc. SRNE, +7.76% an antibody-centric, clinical-stage biopharmaceutical company developing new treatments for cancer and other unmet medical needs, announced today that early this year it engaged financial advisors to assist the company in exploring and evaluating strategic alternatives to maximize shareholder value.

Sorrento engaged Guggenheim Securities and PJT Partners to review a number of strategic alternatives.

"As part of the ongoing evaluation of our portfolio of assets we decided to engage industry leading firms to advise us on potential alternatives and strategies," stated Dr. Henry Ji, President and CEO. "Although there are no assurances that the process we commenced will result in a transaction, we believe the expertise of both Guggenheim Securities and PJT Partners will provide us with the best ability to fully evaluate options to enhance shareholder value," added Dr. Ji.

Sorrento does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the evaluation will result...