Thursday, July 9, 2015

NantBioScience, Sorrento Therapeutics Launch $100M JV

Los Angeles-based NantBioScience and San Diego-based Sorrento Therapeutics announced this morning that the two have launched a new, joint venture, aimed at small molecule treatments for cancer. The two said they will invest $100M in the new, joint venture, which they call a "moonshot program" to develop small molecules for treating caner. The companies said the new, JV will be 60 percent owned by NantBioScience, and 40 percent owned by Sorrento. NantBioScience is one of the units of NantWorks, the collection of companies run by billionaire Dr. Patrick Soon-Shiong.

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