A financing arrangement between biotech billionaire Dr. Patrick Soon-Shiong and ImmunityBio Inc. helped “bridge the gap” to regulatory approval of a novel bladder cancer drug, an attorney for the company and its executive chairman told a Delaware court Tuesday.
Soon-Shiong and ImmunityBio seek to exit a lawsuit alleging he eniched himself by misleading investors about the drug’s prospects with the FDA. An attorney for the investor leading the litigation in Delaware Chancery Court said Soon-Shiong received a $700 million “windfall” in a bundle of transactions before the approval of the drug Anktiva in 2024.
“Fundraising has always been a constant ...
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