LONDON, June 9 /PRNewswire/ -- 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 $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.
"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
Tel: (858) 210-3701
Fax: (858) 210-3759
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SOURCE Frost & Sullivan