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In 2015 NantPharma, a subsidiary in Soon-Shiong’s network of Nant companies, acquired the rights to the cancer drug Cynviloq from Sorrento Therapeutics with a $90 million up-front cash payment and agreed to pay an additional $1.2 billion if certain regulatory milestones were reached. At the time Cynviloq was undergoing multiple clinical trials to determine its bioequivalence to Abraxane, a cancer drug Soon-Shiong invented.
While Soon-Shiong no longer owned Abraxane at the time of the Cynviloq acquisition, he was still Celgene’s largest individual stockholder. A new competitor in the market would have been “financially devastating” to Soon-Shiong, the lawsuit alleges., and despite his recent flashy purchases of assets like theestimates that a significant chunk of his net worth—about $1.5 billion—lies in his Celgene shares.
This calls for prayer, if this drug is what we think it is. God bless us all.
Ah! Les farmaceútiques! ... com pensen en les persones!! Són un amor. 🤗