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Sorrento Therapeutics Registers for Possible IPO for Animal Health Subsidiary

Sorrento Therapeutics Inc. has submitted a draft registration statement on a confidential basis with the U.S. Securities and Exchange Commission for a possible initial public offering of shares of common stock of its wholly-owned subsidiary, Ark Animal Health Inc.

The number of shares to be offered and the price range for have not been determined.

Sorrento (Nasdaq: SRNE) announced the launch of Ark in April.

Ark Animal Health Inc. was working on pain medication for dogs that could be used in other species such as cats and horses.

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Sorrento Therapeutics, which is developing treatments for cancer and associated pain, recently raised about $28.8 million before expenses on a secondary stock offering.

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