By: Adam Feuerstein | 06/05/14 - 01:42 PM EDT
(CELG) is once again partnering with billionaire healthcare entrepreneur Patrick Soon-Shiong. Next Tuesday, Celgene will announce a $25 million investment in NantHealth, a healthcare technology company founded by Soon-Shiong,
TheStreet has learned.
Last January, Celgene paid $75 million in an upfront license fee and equity stake to license cancer compounds from NantBioScience, another Soon-Shiong healthcare venture. In 2010, Celgene spent almost $3 billion to acquire Abraxis BioScience from Soon-Shiong, which gave them control of the cancer drug Abraxane.
NantHealth is billed as a business accelerator for healthcare aiming to develop technologies which will allow oncologists to improve cancer treatment. Soon-Shiong invested $1 billion of his own fortune into NantHealt. More recent investors, other than Celgene, include BlackBerry (BBRY), Verizon (VZ) and the sovereign wealth fund of Kuwait.
Here's a 2011 Forbes profile of Soon-Shiong, who is known as Los Angeles' richest man.
10/22/14 - 11:52 AM EDT
10/22/14 - 08:39 AM EDT
10/21/14 - 09:29 AM EDT
10/20/14 - 10:56 AM EDT
10/15/14 - 04:07 PM EDT
10/22/14 - 10:11 AM EDT
10/22/14 - 09:24 AM EDT
10/22/14 - 07:11 AM EDT
10/21/14 - 11:34 AM EDT
10/21/14 - 10:23 AM EDT
David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Access the tool that DOMINATES the Russell 2000 and the S&P 500.