SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

 

  

SCHEDULE 13G

  

Under the Securities Exchange Act of 1934 

 

 

SORRENTO THERAPEUTICS, INC.

(Name of Issuer)

 

 

COMMON STOCK

(Title of Class of Securities)

 

 

74838 K306

(CUSIP Number)

 

December 22, 2010

(Date of Event Which Requires Filing of this Statement)

 

 

Check appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨ Rule 13d-1(b)

 

S    Rule 13d-1(c)

 

£    Rule 13d-1(d)

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

(Continued on following pages)

 

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13G

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CUSIP No. 74838 K306

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Item 1.

(a)		Name of Issuer:
		Sorrento Therapeutics, Inc. (the “Issuer”)

(b)		Address of Issuer's Principal Executive Offices:
		6042 Cornerstone Ct. West, Suite B, San Diego, CA 92121

Item 2.

(a)		Name of Person Filing:
		Donald R. Scifres

(b)		Address of Principal Business Office:
		480 San Antonio Rd., Suite 200, Mountain View, CA 94040

(c)		Citizenship:
		USA

(d)		Title of Class of Securities:
		Common Stock

(e)		CUSIP Number:
		74838 K306

Item 3.	If this statement is filed pursuant to Rules 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
	Not applicable.
Item 4.	Ownership
	The following information with respect to the ownership of the Common Stock of the Issuer by the person filing this statement is provided as of December 22, 2010:
(a)	Amount Beneficially Owned:
	36,158,594 shares. Includes (i) 25,000,000 shares of common stock held in The Donald R. Scifres 2010 Annuity Trust V of which Mr. Scifres is trustee; (ii) 11,008,408 shares of common stock held in The Donald R. Scifres 2009 Annuity Trust L of which Mr. Scifres is trustee; and (iii) 150,186 shares of common stock held in SDL Ventures, LLC in which Mr. Scifres has a controlling interest.
(b)	Percent of Class:
	Approximately 14.4% of the shares of Common Stock outstanding as of December 22, 2010, assuming 250,798,413 shares outstanding including 225,084,127 shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed on November 8, 2010, plus an additional 25,714,286 shares issued and sold on December 22, 2010 as reported in the Issuer’s Current Report on Form 8-K filed on December 23, 2010.

 

 

 

CUSIP No. 74838 K306

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(c)	Number of shares as to which such person has:
	(i)	sole power to vote or to direct the vote:
		36,158,594
	(ii)	shared power to vote or to direct the vote:
		0
	(iii)	sole power to dispose or to direct the disposition of:
		36,158,594
	(iv)	shared power to dispose or to direct the disposition of:
		0

 

Item 5.		Ownership of Five Percent or Less of a Class
		Not applicable.
Item 6.		Ownership of More than Five Percent on Behalf of Another Person
		Not applicable.
Item 7.		Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
		Not applicable.
Item 8.		Identification and Classification of Members of the Group
		Not applicable.
Item 9.		Notice of Dissolution of the Group
		Not applicable.
Item 10.		Certification
		By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

  

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SIGNATURE

 

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Date: January 25, 2012

/s/ Donald Scifres

Donald Scifres