Billionaire Dr. Patrick Soon-Shiong plans to take new company, Nant, public: 4 things to know

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Billionaire, biotechnology entrepreneur and surgeon Patrick Soon-Shiong, MD, plans to take his experimental cancer treatment company public by the end of 2018, according to Reuters.

Here are four things to know about Dr. Soon-Shiong's new company, to be called Nant:

1. Nant would use most of the funds raised during the initial public offering to develop a pipeline of cancer drugs.

2. Nant's portfolio already includes six compounds in clinical trials that target nine types of tumors. Dr. Soon-Shiong's goal is to develop a multidrug regimen to help cancer patients reach long-term remission.

3. Dr. Soon-Shiong has begun hiring bankers for the Nant IPO. He has reportedly hired Credit Suisse to work on the IPO and said he is in talks with two other investment banks.

4. Dr. Soon-Shiong earned his billionaire status after founding and selling an injectable drugmaker, according to Reuters. He later founded NantWorks, which has spun off two publicly traded companies: NantHealth and NantKwest.

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