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CELG- Billionaire Soon-Shiong ties a $75M knot with Celgene, vows R&D revolution

January 15, 2014 | By John Carroll

Biotech billionaire Patrick Soon-Shiong is back to doing cancer drug deals. And he's working with some very familiar partners at Celgene to build up a new platform for nanoparticle albumin-bound (NAB) drugs--building on the same tumor-targeting tech used for Abraxane.

Celgene, which bought Abraxane from Soon-Shiong in the $3 billion Abraxis acquisition, is licensing two IND-enabled NAB drugs to NantBioScience, an LA-based subsidiary of the billionaire's new company NantWorks. Celgene ($CELG) is also paying out $75 million as part option fee and part equity investment in the company, with plans to rope back in the most promising therapies to come out of the company.


Read more: Billionaire Soon-Shiong ties a $75M knot with Celgene, vows R&D revolution - FierceBiotech http://www.fiercebiotech.com/story/billionaire-soon-shiong-ties-75m-knot-celgene-vows-rd-revolution/2014-01-15#ixzz2qTsdyghh
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