Biotech's Soon-Shiong hiring bankers for Nant cancer drug IPO [Reuters]
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Source: Reuters
Biotech's Soon-Shiong hiring bankers for Nant cancer drug IPO | Reuters 4 Min Read LOS ANGELES, June 11 (Reuters) - Billionaire Patrick Soon-Shiong plans to take an experimental cancer treatment company public this year and has begun hiring bankers, the biotechnology entrepreneur told Reuters. The former surgeon said in a recent interview that the new company, to be called Nant, would use most of the money raised from the initial public offering to develop a pipeline of cancer drugs, although the amount of financing has yet to be determined. Soon-Shiong made billions by founding and selling an injectable drugmaker, followed by a company that developed a way to make a chemotherapy drug more effective. Later, he founded Culver City, California-based NantWorks, from which he has spun off two publicly traded companies â?? cancer-testing company NantHealth Inc and immunotherapy developer NantKwest Inc. Shares of both have fallen sharply and losses have mounted amid questions over whether f
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