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NantHealth (NH)'s Biotech Mogul CEO Sued Over Capital Investment in Precision Biologics



7/13/2017 7:16:11 AM

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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.

Read at News Release


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