Sorrento Therapeutics, Inc.: M&A transaction — Sorrento Therapeutics sells ImmuneOncia stake to Yuhan for $20M; closes Nov 2

venture (collectively, and together with the ImmuneOncia Common Shares and the Purchased Patents, the “ Purchased Assets ”), in exchange for an aggregate amount in cash equal to $20 million and Purchaser’s assumption of certain liabilities as further described in the APA, all subject to Bankruptcy Court approval. Following a hearing before the Bankruptcy Court on

On October 30, 2023, Sorrento and Yuhan Corporation (the " Purchaser ") entered into that certain Asset Purchase Agreement (the " APA ") pursuant to which the Purchaser agreed to acquire (the " ImmuneOncia Sale ") (i) 22,665,440 shares of common stock (" ImmuneOncia Common Shares ") of ImmuneOncia Therapeutics Inc. (" ImmuneOncia "), a company duly organized under the laws of the Republic of Korea and a joint venture between Sorrento and the Purchaser, representing the entirety of Sorrento's stake in the ImmuneOncia joint venture and (ii) certain related patents (the " Purchased Patents "), technology, inventory, books and records and contracts of Sorrento related to the ImmuneOncia joint venture (collectively, and together with the ImmuneOncia Common Shares and the Purchased Patents, the " Purchased Assets "), in exchange for an aggregate amount in cash equal to $20 million and Purchaser's assumption of certain liabilities as further described in the APA, all subject to Bankruptcy Cou

Concurrently with the closing of the ImmuneOncia Sale, Sorrento and the Purchaser entered into a Manufacturing Technology Transfer Agreement (the " Technology Transfer Agreement ") with Purchaser on November 2, 2023, pursuant to which Sorrento agreed to assist the Purchaser with a technology transfer to a manufacturing facility designated by the Purchaser to facilitate the Purchaser's manufacture of a certain product after the closing of the ImmuneOncia Sale.