The U.S. National Institutes of Health granted Sorrento Therapeutics ($SRNE) $2.6 million to develop antibacterial immunotherapies, including $600,000 for targeted drug delivery of a novel monoclonal antibody targeting Pseudomonas aeruginosa, which causes pneumonia and other illnesses. This marks another government effort to address growing concerns about the lack of new antibiotics as well as the emergence of drug-resistant strains of bacteria. The federal Centers for Disease Control and Prevention estimates that there are 51,000 healthcare-associated infections due to the bacteria, and 13% are drug resistant. Release