Patrick Soon-Shiong (born July 29, 1952) is a Chinese-South African
transplant surgeon, billionaire businessman, bioscientist, and
media proprietor. He is the inventor of the drug
Abraxane, which became known for its efficacy against lung, breast, and
pancreatic cancer
Pancreatic cancer arises when cells in the pancreas, a glandular organ behind the stomach, begin to multiply out of control and form a mass. These cancerous cells have the ability to invade other parts of the body. A number of types of pancr ...
. Soon-Shiong is the founder of
NantWorks, a network of healthcare, biotech, and artificial intelligence startups;
an adjunct professor of surgery and executive director of the Wireless Health Institute at the
University of California, Los Angeles
The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the Californ ...
; and a visiting professor at
Imperial College London
Imperial College London (legally Imperial College of Science, Technology and Medicine) is a public research university in London, United Kingdom. Its history began with Prince Albert, consort of Queen Victoria, who developed his vision for a cu ...
and
Dartmouth College
Dartmouth College (; ) is a private research university in Hanover, New Hampshire. Established in 1769 by Eleazar Wheelock, it is one of the nine colonial colleges chartered before the American Revolution. Although founded to educate Native ...
.
[Biographies providing these details include , , and ] Soon-Shiong has published more than 100 scientific papers and has more than 230 issued patents worldwide on advancements spanning numerous fields in technology and medicine.
[
Soon-Shiong is the chairman of three nonprofit organizations: the Chan Soon-Shiong Family Foundation, which aims to fund research and erase disparities in access to health care and education;] the Chan Soon-Shiong Institute for Advanced Health, which is focused on changing the way health information is shared; and the Healthcare Transformation Institute, a partnership with the University of Arizona
The University of Arizona (Arizona, U of A, UArizona, or UA) is a Public university, public Land-grant university, land-grant research university in Tucson, Arizona. Founded in 1885 by the 13th Arizona Territorial Legislature, it was the first ...
and Arizona State University
Arizona State University (Arizona State or ASU) is a public research university in the Phoenix metropolitan area. Founded in 1885 by the 13th Arizona Territorial Legislature, ASU is one of the largest public universities by enrollment in the ...
. He has been a minority owner of the Los Angeles Lakers
The Los Angeles Lakers are an American professional basketball team based in Los Angeles. The Lakers compete in the National Basketball Association (NBA) as a member of the league's Western Conference Pacific Division. The Lakers play their ...
since 2010, and since June 2018, he has been the owner and executive chairman of the ''Los Angeles Times
The ''Los Angeles Times'' (abbreviated as ''LA Times'') is a daily newspaper that started publishing in Los Angeles in 1881. Based in the LA-adjacent suburb of El Segundo since 2018, it is the sixth-largest newspaper by circulation in the ...
'' and ''The San Diego Union-Tribune
''The San Diego Union-Tribune'' is a metropolitan daily newspaper published in San Diego, California, that has run since 1868.
Its name derives from a 1992 merger between the two major daily newspapers at the time, ''The San Diego Union'' and ...
''. , Soon-Shiong is estimated by ''Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'' to have a net worth of 11.5 billion. He has committed to the Giving Pledge and has pledged to give away at least half of his wealth to philanthropy.[
]
Early life and education
Soon-Shiong was born in Port Elizabeth
Gqeberha (), formerly Port Elizabeth and colloquially often referred to as P.E., is a major seaport and the most populous city in the Eastern Cape province of South Africa. It is the seat of the Nelson Mandela Bay Metropolitan Municipality, So ...
, Union of South Africa
The Union of South Africa ( nl, Unie van Zuid-Afrika; af, Unie van Suid-Afrika; ) was the historical predecessor to the present-day Republic of South Africa. It came into existence on 31 May 1910 with the unification of the Cape, Natal, Tr ...
, to Chinese immigrant parents who fled from China during the Japanese occupation in World War II. His parents were Hakka
The Hakka (), sometimes also referred to as Hakka Han, or Hakka Chinese, or Hakkas are a Han Chinese subgroup whose ancestral homes are chiefly in the Hakka-speaking provincial areas of Guangdong, Fujian, Jiangxi, Guangxi, Sichuan, Hunan, Zhej ...
originally from Meixian District
Meixian (, Hakka: Moiyen), formerly Meihsien, is a district of Meizhou City, in northeastern Guangdong Province, China. The county is an important Hakka settlement and is the ancestral home of many Hakka descendants living in Taiwan.
History ...
in Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020 ...
province. His ancestral surname is Wong
Wong may refer to:
Name
* Wong (surname), a Chinese surname
Places
* Wong Chuk Hang, an area to the east of Aberdeen on Hong Kong Island
* Wong Chuk Hang Estate, a public housing estate in Wong Chuk Hang, Hong Kong
* Wong Chuk Hang Road, a majo ...
(黃).
Soon-Shiong graduated 4th out of his class of 189 from the University of Witwatersrand, receiving a bachelor's degree in medicine (MBBCh) at age 23. He completed his medical internship at Johannesburg's General Hospital. He then studied at the University of British Columbia
The University of British Columbia (UBC) is a public research university with campuses near Vancouver and in Kelowna, British Columbia. Established in 1908, it is British Columbia's oldest university. The university ranks among the top thr ...
, where he earned a master's degree in 1979, with research awards from the American College of Surgeons
The American College of Surgeons is an educational association of surgeons created in 1913.American College of Surgeons Online "What is the American College of Surgeons?"/ref>
See also
*American College of Physicians
The American College o ...
, the Royal College of Physicians and Surgeons of Canada, and the American Association of Academic Surgery.
He moved to the United States and began surgical training at University of California, Los Angeles
The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the Californ ...
(UCLA), and became a board-certified surgeon in 1984. Soon-Shiong is a Fellow of the Royal College of Surgeons (Canada) and a Fellow of the American College of Surgeons Fellow of the American College of Surgeons (or FACS) is a professional certification
Professional certification, trade certification, or professional designation, often called simply ''certification'' or ''qualification'', is a designation earned ...
.[
]
Career
Soon-Shiong joined UCLA Medical School in 1983 and served on that faculty until 1991,[ as a transplant surgeon.] Between 1984 and 1987, he served as an associate investigator at the Center for Ulcer Research and Education.[ Soon-Shiong performed the first whole-pancreas transplant done at UCLA,] and he developed and first performed the experimental Type 1 diabetes
Type 1 diabetes (T1D), formerly known as juvenile diabetes, is an autoimmune disease that originates when cells that make insulin (beta cells) are destroyed by the immune system. Insulin is a hormone required for the cells to use blood sugar f ...
-treatment known as encapsulated-human- islet transplant, and the "first pig-to-man islet-cell transplant in diabetic patients."[ After a period in industry, he returned to UCLA in 2009, serving as a professor of microbiology, immunology, molecular genetics and bioengineering until this date. Soon-Shiong served as a visiting professor at Imperial College, London, in 2011.]
Soon-Shiong purchased Fujisawa, which sold injectable generic drugs, in 1998. He used its revenues to develop Abraxane, which took an existing chemotherapy drug, Taxol, and wrapped it in protein that made it easier to deliver to tumors. He was able to quickly move it through the regulatory process and made his fortune with this medicine. In 1991, Soon-Shiong left UCLA to start a diabetes and cancer biotechnology firm called VivoRx Inc. This led to the founding in 1997 of APP Pharmaceuticals, of which he held 80% of outstanding stock and sold to Fresenius SE
Fresenius SE & Co. KGaA is a health care company based in Bad Homburg vor der Höhe, Germany. It provides products and services for dialysis, in hospitals and inpatient and outpatient medical care. It is involved in hospital management and in ...
for $4.6 billion in July 2008. Soon-Shiong later founded Abraxis BioScience (maker of the drug, Abraxane),[ a company he sold to ]Celgene
Celgene Corporation is a pharmaceutical company that makes cancer and immunology drugs. Its major product is Revlimid (lenalidomide), which is used in the treatment of multiple myeloma, and also in certain anemias. The company is incorporated in ...
in 2010 in a cash-and-stock deal valued at over $3 billion.
Soon-Shiong founded NantHealth
NantHealth is one of the constituent companies of NantWorks, which is controlled by Patrick Soon-Shiong. With headquarters in Morrisville, North Carolina, the firm is focused on developing and marketing a range of healthcare solutions.
In addi ...
in 2007 to provide fiber-optic, cloud-based data infrastructure to share healthcare information. Soon-Shiong went on to found NantWorks in September 2011, whose mission was "to converge ultra-low power semiconductor technology, supercomputing, high performance, secure advanced networks and augmented intelligence to transform how we work, play, and live." In October 2012, Soon-Shiong announced that NantHealth's supercomputer-based system and network were able to analyze the genetic data from a tumor sample in 47 seconds and transfer the data in 18 seconds. The goal of developing this infrastructure and digital technologies was to share genomic information among sequencing centers, medical research hubs and hospitals, and to advance cancer research and big science endeavors such as The Cancer Genome Atlas. In January 2013, he founded another biotech company, NantOmics, to develop cancer drugs based on protein kinase inhibitors. NantOmics and its sister company, NantHealth, were subsidiaries of NantWorks. Soon-Shiong stated that NantWorks' vision for the future of cancer treatment was a convergence of multiple technologies that included diagnostics, supercomputing, network modeling of sharing data on tumor genes and personalized cocktails of cancer drugs in multi-target attacks, to achieve a sustained disease-free state.
In 2010, with Arizona State University
Arizona State University (Arizona State or ASU) is a public research university in the Phoenix metropolitan area. Founded in 1885 by the 13th Arizona Territorial Legislature, ASU is one of the largest public universities by enrollment in the ...
and the University of Arizona
The University of Arizona (Arizona, U of A, UArizona, or UA) is a Public university, public Land-grant university, land-grant research university in Tucson, Arizona. Founded in 1885 by the 13th Arizona Territorial Legislature, it was the first ...
, Soon-Shiong founded the Healthcare Transformation Institute (HTI), which he dubs a "do-tank". HTI's mission is to promote a shift in health care in the United States by better integrating the three now separate domains of medical science, health delivery, and healthcare finance. In July 2015, Soon-Shiong initiated an IPO for NantKwest (formerly ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion. In April 2016, the ''Los Angeles Times'' reported that Soon-Shiong received a pay package in 2015 from NantKwest worth almost $148 million, making him one of the highest paid CEOs. Soon-Shiong is also a member of the Berggruen Institute
The Berggruen Institute is a Los Angeles-based think tank founded by Nicolas Berggruen.
History
In 2010, Nicolas Berggruen and Nathan Gardels sat down with a group of academics, business leaders, and political veterans in California to discu ...
's 21st Century Council.
In 2015, Soon-Shiong's NantPharma purchase the drug Cynviloq from Sorrento Theraputics for $90 million dollars, including more than $1 billion dollars in compensation for reaching regulatory and sales milestones Soon-Shiong did not push forward with FDA approval as the agreement dictated, and instead allowed critical patents and deadlines lapse, presumably due to his financial interest in another drug that would compete with Cynviloq. This "catch and kill" method of eliminating competition follows a pattern of questionable business practices by Soon-Shiong , and claims of "looting" by the cleberity actress and musician Cher
Cher (; born Cherilyn Sarkisian; May 20, 1946) is an American singer, actress and television personality. Often referred to by the media as the Honorific nicknames in popular music, "Goddess of Pop", she has been described as embodying female ...
.
In early 2016, Soon-Shiong launched the National Immunotherapy Coalition to encourage rival pharmaceutical companies to work together to test combinations of cancer-fighting drugs. He has also met numerous times with former vice president and current US president Joe Biden to discuss more ambitious approaches to fighting cancer, including conducting genomic sequencing of 100,000 patients to create a massive database of potential genetic factors.
In 2017, as announced by press secretary Sean Spicer
Sean Michael Spicer (born September 23, 1971) is a former American political aide who served as the 30th White House Press Secretary and as White House Communications Director under President Donald Trump in 2017. Spicer was communications dire ...
, then President-elect Donald Trump
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
Trump graduated from the Wharton School of the University of P ...
met with Soon-Shiong at his Bedminster, New Jersey
Bedminster is a township in Somerset County, New Jersey, United States. As of the 2010 United States census, the township's population was 8,165, reflecting a decline of 137 (−1.7%) from the 8,302 counted in the 2000 Census, which had in t ...
estate to discuss national medical priorities. In May 2017, Soon-Shiong was appointed by House Speaker Paul Ryan
Paul Davis Ryan (born January 29, 1970) is an American former politician who served as the 54th speaker of the United States House of Representatives from 2015 to 2019. A member of the Republican Party, he was the vice presidential nominee i ...
to the Health Information Technology Advisory Committee, a committee established by the 21st Century Cures Act.
In 2017, Soon-Shiong and his wife were invited by the Smithsonian to be part of the permanent exhibit
Many Voices, One Nation
in the West Wing of the Smithsonian museum in Washington DC.
In early 2021, Soon-Shiong merged a publicly traded company NantKwest (NASDAQ: NK) with a privately held entity ImmunityBio (formerly NantCell). The new public entity after the merger is known as ImmunityBio, Inc. trading in NASDAQ under ticker symbol: IBRX.
By summer 2021, ImmunityBio had developed a T cell
A T cell is a type of lymphocyte. T cells are one of the important white blood cells of the immune system and play a central role in the adaptive immune response. T cells can be distinguished from other lymphocytes by the presence of a T-cell r ...
-inducing universal COVID-19
Coronavirus disease 2019 (COVID-19) is a contagious disease caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first known case was identified in Wuhan, China, in December 2019. The disease quick ...
vaccine booster shot had reached Phase III trials in his native South Africa, with a stated goal of completely blocking transmission and stemming an endemic tide of COVID-19 variants. In December 2021, Dr. Soon-Shiong shared pre-clinical results of giving two different vaccine platforms ( heterologous) and showed beneficial T cell
A T cell is a type of lymphocyte. T cells are one of the important white blood cells of the immune system and play a central role in the adaptive immune response. T cells can be distinguished from other lymphocytes by the presence of a T-cell r ...
levels using an adenovirus
Adenoviruses (members of the family ''Adenoviridae'') are medium-sized (90–100 nm), nonenveloped (without an outer lipid bilayer) viruses with an icosahedral nucleocapsid containing a double-stranded DNA genome. Their name derives from ...
and mRNA
In molecular biology, messenger ribonucleic acid (mRNA) is a single-stranded molecule of RNA that corresponds to the genetic sequence of a gene, and is read by a ribosome in the process of synthesizing a protein.
mRNA is created during the ...
technology.
0https://www.nytimes.com/2021/08/12/opinion/sway-kara-swisher-patrick-soon-shiong.html?showTranscript=1
In September 2021, Soon-Shiong and President Cyril Ramaphosa of South Africa announced via a virtual press conference a new venture called NantSA with NantWorks to expand the capability of vaccine development for Africa. NantWorks has signed a collaboration agreement with the South African government’s Council for Scientific and Industrial Research
The Council for Scientific and Industrial Research (CSIR) is South Africa's central and premier scientific research and development organisation. It was established by an act of parliament in 1945 and is situated on its own campus in the c ...
, the South African Medical Research Council ( SAMRC) and the Centre for Epidemic Response and Innovation.
In January 2022, Soon-Shiong opened a new manufacturing facility and campus in Cape Town, South Africa with President Ramaphosa. Soon-Shiong and his entities are reported to be investing over 4 billion RAND (~$250 million dollars) into the continent.
In Feb 2022, Soon-Shiong announced results from ImmunityBio regarding a clinical trial in Non-Muscle Invasive Bladder Cancer ( NMIBC) with a 24.1 median duration and 71% complete remission.
Investments
In 2013, Soon-Shiong became an early investor in Zoom, a video conferencing company.
In September 2014, NantWorks LLC, a company headed by Soon-Shiong, invested $2.5 million in AccuRadio AccuRadio is an independent, multichannel Internet radio property founded in 2000, and based in Chicago, Illinois. It currently offers over a thousand pre-developed 'music channels'. Some channels also highlight music from different locations around ...
.
In 2015, NantWorks LLC invested in Wibbitz in their $8 million series B funding.
In February 2018, the ''Los Angeles Times
The ''Los Angeles Times'' (abbreviated as ''LA Times'') is a daily newspaper that started publishing in Los Angeles in 1881. Based in the LA-adjacent suburb of El Segundo since 2018, it is the sixth-largest newspaper by circulation in the ...
'' reported that Soon-Shiong's investment firm NantCapital reached a deal to purchase the paper and ''The San Diego Union-Tribune
''The San Diego Union-Tribune'' is a metropolitan daily newspaper published in San Diego, California, that has run since 1868.
Its name derives from a 1992 merger between the two major daily newspapers at the time, ''The San Diego Union'' and ...
'' from Tronc Inc. for "nearly $500 million in cash" as well as the assumption of $90 million in pension obligations. Soon-Shiong, with this acquisition, became one of the first Asian-Americans to be a media proprietor through ownership in a major daily newspaper in the United States. The sale closed on June 18, 2018.
In September 2018, his company NantEnergy announced the development of a zinc air battery with a projected cost of $100 per kilowatt-hour (less than one-third the cost of lithium-ion batteries
A lithium-ion or Li-ion battery is a type of rechargeable battery which uses the reversible reduction of lithium ions to store energy. It is the predominant battery type used in portable consumer electronics and electric vehicles. It also se ...
).
In 2019, Soon-Shiong became an investor in a graphene based technology company in Europe calle
Directa Plus
He is currently a 28% owner of the company.
In 2021, Soon-Shiong announced a new investment of $29 million in a biorenewables company called NantRenewables in SeaPoint, Savannah, Georgia.
In 2022, Soon-Shiong invested in Sienza, a lithium battery company in Pasadena, California.
Personal life
Soon-Shiong is married to former actress Michele B. Chan. They have two children, including Nika Soon-Shiong, and live in Los Angeles, California.[ He is an avid basketball and football fan.
]
References
{{DEFAULTSORT:Soon-Shiong, Patrick
1952 births
American billionaires
American people of Chinese descent
American health care chief executives
American medical academics
American medical researchers
American philanthropists
American surgeons
Businesspeople from Los Angeles
Businesspeople in the pharmaceutical industry
Giving Pledgers
21st-century philanthropists
Hakka scientists
Living people
Los Angeles Lakers owners
Los Angeles Times people
People from Port Elizabeth
Physicians from California
South African academics
South African billionaires
South African businesspeople
South African emigrants to the United States
South African people of Chinese descent
South African philanthropists
South African surgeons
David Geffen School of Medicine at UCLA faculty
University of British Columbia alumni