Monday, September 11, 2023

ImmunityBio Gets $470M In Equity, Debt From Soon-Shiong

Culver City-based immunotherapy developer ImmunityBio has received $470M in equity and debit financing from its founder, Dr. Patrick Soon-Shiong, the company said this morning. According to ImmunityBio, the new capitl includes exchange of $270M of debt held by Nant Entities, and $200M in a new 3 year term debt financing from Nant Capital. Both of those companies are controlled by billionaire Soon-Shiong. According to the company, the new funding will "provide capital sufficient to support the Company’s ongoing operations and pre-commercialization activities through the anticipated potential FDA approval of Anktiva for BCG-unresponsive bladder cancer".

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