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Celgene Corporation (CELG) Wagers $25 Million On Nanthealth



6/10/2014 11:00:12 AM

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LOS ANGELES--(BUSINESS WIRE)--NantHealth, the transformational healthcare cloud-based IT company renowned for measurable progress in converging science and technology through a single integrated clinical platform, has announced that Celgene Corporation has committed to a strategic $25 million investment in the company.

This furthers the ongoing collaboration between the two entities; Celgene invested $75 million in NantBioScience, a member of the NantWorks family of companies, earlier this year. The most recent investment is targeted at leveraging NantHealth’s established and acclaimed knowledge base and clinical operating system (cOS) to further aid clinicians and medical researchers in developing innovative and proven new approaches to cancer detection, prevention, diagnosis, and treatment.

“Our mission – our commitment – is to empower clinicians with 21st-century clinical decision support in real time, at the first point of care, through the power of supercomputing, genomic analysis and molecular analysis,” said Dr. Patrick Soon-Shiong, Founder and CEO of NantHealth. “We are proud that Celegene has joined us in advancing this commitment; one which requires providers and researchers to work in close collaboration to innovate – and then deliver – molecular-designed cancer treatments for patients, ensuring they receive the right care at the right time to positively and proactively alter the course of their disease. We are in discussions with multiple pharmaceutical companies to collaborate with NantHealth in the development of personalized medicines where the power of one, informs many.”

NantHealth’s vast drug discovery capabilities already include a comprehensive cancer clinical trials search engine, a database of thousands of clinical trials, and access to one of the fastest and most advanced infrastructures for genomic analysis in the world today. By empowering physicians to match their patients’ diagnoses to specific treatment studies in their areas, NantHealth makes it easier for both clinicians and patients to identify new medical protocols and drugs in clinical trials at the first point of treatment prescription.

For example, clinicians can more effectively identify critical biomarkers in clinical trial data, interpret patient genomic data at multiple levels of detail, and connect instantly with an expanding community of researchers, with data to help empower and dramatically improve research and discovery. This SAAS based decision support platform has now been deployed in over two thirds of oncology practices in the United States.

"Celgene is excited to invest once again in Dr. Soon-Shiong’s vision and proven ability to deliver molecularly driven personalized medicine,” said Jacqualyn Fouse, Ph.D., CFO and recently promoted to President Hematology & Oncology of Celgene. “We believe it is crucial for pharmaceutical companies to collaborate with – and invest in – visionary and groundbreaking companies like NantHealth and NantBioScience to both advance the development of new drugs and to help the millions of patients in need.”

Celgene’s investment in NantHealth follows two other recent investments in the company. In April, NantHealth announced that the Kuwait Investment Authority, one of the world’s largest sovereign wealth funds, had invested $100 million in the company to accelerate innovation that will enable better patient care and reduced costs. Earlier in April, BlackBerry announced an investment in NantHealth to collaborate on the development of HIPAA and other government privacy-certified, integrated clinical systems that transform the delivery of medical care.

“These investments not only accelerate NantHealth in its pursuit of transforming healthcare, but also prove NantWorks as a meaningful innovation accelerator for our partners and their industry verticals.” said Dr. Soon-Shiong.

About NantHealth

NantHealth, a member of the NantWorks family of companies, is a transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime.

NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers physicians, patients, payers and researchers to transcend the traditional barriers of today’s healthcare system.

By converging molecular science, computer science and big data technology the NantHealth Clinical Operating System (cOS) platform empowers physicians, patients, and payers to coordinate best care, monitor outcomes and control cost in real time. This is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture, that integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost. For more information please visit www.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare. Contacts

NantWorks Jen Hodson, 562-397-3639 jhodson@nantworks.com

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