Billionaire Doctor Patrick Soon-Shiong Shares New Details On His Latest Cancer-Fighting Company—And How It’s Tied To His Other Firms [Forbes]
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Source: Forbes
Billionaire Doctor Patrick Soon-Shiong Shares New Details On His Latest Cancer-Fighting Company—And How It’s Tied To His Other Firms The day after Bristol-Myers Squibb announced its $74 billion acquisition of Celgene last week, billionaire doctor and Celgene shareholder Patrick Soon-Shiong announced another, albeit smaller, Celgene deal. Soon-Shiong’s privately-held immunotherapy startup called NantCell issued a statement Friday saying that it had received $30 million in funding from Celgene, bringing the biopharma’s total investment in the startup to $105 million and a 2.8% ownership stake that, NantCell claimed in its press release, gives the company a $4 billion valuation. Monday morning during a presentation at the J.P. Morgan conference in San Francisco, Soon-Shiong laid out what the cancer-focused biotech has been working on. He said NantCell and two publicly-traded companies, NantHealth and NantKwest, are together working on the entire continuum of the immune system in treatin
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