PDS Biotech Announces up to $22.55 Million Financing Led by Dr. Patrick Soon-Shiong, Founder of NantWorks
PDS Biotechnology announced it has raised up to $22.55 million in equity funding through a private investment in public equity (PIPE) transaction, led by Dr. Patrick Soon-Shiong, founder of NantWorks. Dr. Soon-Shiong will join PDS Biotech's board of directors, and the company plans to progress development of its PDS0301 immunocytokine for solid tumors.
Why it matters — A PDSB watcher would care because the financing provides capital to advance its PDS0301 immunocytokine program and brings a prominent investor onto the board, which could support the company's clinical development efforts.