NantHealth's Biotech Mogul CEO Sued Over Capital Investment in Precision Biologics
Precision Biologics has filed a lawsuit against biotech mogul Patrick Soon-Shiong, accusing him and the company’s controlling board members of wrongfully diverting capital.
Company stockholder James A. Feldman filed a custodian request with Delaware’s Chancery Court last week, and in the document Feldman accuses Soon-Shiong, NantCell and two other directors of breaching contract and fiduciary duty to Precision Biologics.
The company -- which focuses on developing therapeutic and diagnostic products for the early detection and treatment of cancer -- was founded in 2012. Soon-Shiong’s NantCell purchased a $50 million controlling stake in the company in 2015.
Company stockholder James A. Feldman filed a custodian request with Delaware’s Chancery Court last week, and in the document Feldman accuses Soon-Shiong, NantCell and two other directors of breaching contract and fiduciary duty to Precision Biologics.
The company -- which focuses on developing therapeutic and diagnostic products for the early detection and treatment of cancer -- was founded in 2012. Soon-Shiong’s NantCell purchased a $50 million controlling stake in the company in 2015.