PDS (PDSB) BIOTECH Closes $11.3M of $22.3M PIPE Led by Soon-Shiong

PDS Biotech raised $11.3 million in an initial PIPE closing led by Nant Capital, added Patrick Soon-Shiong to its board and granted NantWorks an option on PDS0101.

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Patrick Soon-Shiong, founder of NantWorks, is joining the board of PDS Biotechnology.
Source: Wikimedia

PDS Biotechnology (PDSB) announced the initial closing of a private placement of up to $22.3 million, raising roughly $11.3 million in gross proceeds in a round led by Nant Capital with participation from existing investors. Effective at the closing, Patrick Soon-Shiong, founder of NantWorks, and James Banaag, chief financial officer of NantBio, joined the clinical-stage cancer immunotherapy company's board of directors.