Im­mu­ni­ty­Bio looks to pull in $157M from founder Patrick Soon-Sh­iong and an­oth­er in­vestor

On­ly days af­ter win­ning nine fig­ures from an ar­bi­tra­tor in its long-run­ning case with Sor­ren­to Ther­a­peu­tics, Im­mu­ni­ty­Bio is look­ing to tap the fi­nan­cial well that has ties with its founder.

In an an­nounce­ment on Mon­day, the Cal­i­for­nia-based biotech said that it has en­tered a “se­cu­ri­ties pur­chase agree­ment” for a di­rect of­fer­ing with an in­vestor that will is­sue stock of Im­mu­ni­ty­Bio and war­rants for the pur­chase of ad­di­tion­al shares. The biotech ex­pects to get around $50 mil­lion and, if ful­ly ex­er­cised, could get pro­ceeds of up to $60 mil­lion.

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