EX-99.1
Published on June 12, 2009
Exhibit 99.1
OPKO Invests in Biotechnology Company Developing Human Antibody Library
MIAMI, June 11, 2009 OPKO Health, Inc. (NYSE AMEX: OPK) announced that it has made an investment
in Sorrento Therapeutics, Inc., a privately held biotechnology company based in San Diego with a
proprietary platform technology for the generation of fully human monoclonal antibodies. In
exchange for the investment, OPKO acquired approximately one-third of the outstanding common shares
of Sorrento and received a fully-paid, exclusive license to the Sorrento antibody library for the
discovery and development of therapeutic antibodies in the field of ophthalmology.
The therapeutic antibody market is experiencing a significant growth phase and is one of the
fastest growing pharmaceutical market segments, said Dr. Phillip Frost, OPKOs Chairman and Chief
Executive Officer. OPKO is pleased to secure a stake in this cutting edge company.
Further details of the agreement will be included in the companys 8-K filing with the Securities
and Exchange Commission.
About OPKO Health, Inc.
Miami-based OPKO is a specialty healthcare company. OPKO is developing a preclinical pipeline of
novel agents for ophthalmic diseases and markets diagnostic systems that complement its therapeutic
products. For more information visit the companys website at www.opko.com.
About Sorrento Therapeutics, Inc.
Sorrento Therapeutics, Inc. provides a broad, generally applicable platform for the generation of
fully human monoclonal antibodies based on its proprietary technology. Sorrento intends to become
a leading technology provider and developer of fully human monoclonal antibodies for research,
diagnostic and therapeutic use.
This press release contains forward-looking statements, as that term is defined under the Private
Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such
as expects, plans, projects, will, may, anticipates, believes, should, intends,
estimates, and other words of similar meaning, including statements regarding our product
development efforts, our ability to develop a preclinical pipeline of novel agents for ophthalmic
diseases, our ability to market diagnostic systems that complement our therapeutic products, as
well as other non-historical statements about our expectations, beliefs or intentions regarding our
business, technologies and products, financial condition, strategies or prospects. Many factors
could cause our actual activities or results to differ materially from the activities and results
anticipated in forward-looking statements. These factors include those described in our filings
with the Securities and Exchange Commission, as well as risks inherent in funding, developing and
obtaining regulatory approvals of new, commercially-viable and competitive products and treatments,
including that any of our products under development may fail, may not achieve the expected results or
effectiveness and may not generate data that would support the approval or marketing
of products for the indications being studied or for other indications. In addition,
forward-looking statements may also be adversely affected by general market factors, competitive
product development, product availability, federal and state regulations and legislation, the
regulatory process for new products and indications, manufacturing issues that may arise, patent
positions and litigation, among other factors. The forward-looking statements contained in this
press release speak only as of the date the statements were made, and we do not undertake any
obligation to update forward-looking statements. We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA.
Contact:
Steven D. Rubin
305-575-6015
Steven D. Rubin
305-575-6015