Soon-Shiong’s NantCell hauls in another $100M for immuno-oncology R&D

NantCell, one of billionaire entrepreneur Patrick Soon-Shiong’s biotech ventures, raised $100 million in equity cash, moving forward with some in-licensed immuno-oncology treatments.

The company’s latest fundraise comes on the heels of a $75 million round revealed in June, each coming from a single, undisclosed investor. Like all of Soon-Shiong’s biotech endeavors, NantCell says little outside of the occasional press release–heavy on the bluster that is its founder’s trademark–and the company didn’t respond to a request for comment on its $100 million equity sale.

Unveiled in January, NantCell is an offshoot of Soon-Shiong’s NantWorks conglomerate focused on treatments that use the body’s natural defenses to fight cancer. The company’s first move was paying an undisclosed sum to get its hands on Amgen’s ($AMGN) ganitumab, a once-failed antibody treatment NantCell believes it can resurrect. In March, the company broadened its pipeline by trading $110 million in cash and equity for the rights to some immunotherapies from Sorrento Therapeutics ($SRNE), a frequent NantWorks collaborator.[…]

Download the full article here: PDF Download