$200 Million Financing Funds BCG-Unresponsive Bladder Cancer Vaccine

To support an innovative bladder cancer vaccine candidate, ImmunityBio, Inc. today announced that it has executed financing transactions resulting in approximately $200 million of proceeds to the Company.

This financing includes an exchange into equity of current debt and a new convertible debt instrument from Nant Capital, LLC, an entity affiliated with Dr. Patrick Soon-Shiong, the Company's Founder, Executive Chairman, and Global Chief Scientific and Medical Officer.

With this new financing from Dr. Soon-Shiong, confirmed on September 11, 2023, includes the extension of the maturity date of the current debt.

ImmunityBio stated in a press release that it 'believes that it is well-positioned to fund its ongoing business operations and pre-commercialization efforts as it continues to drive toward a potential regulatory approval of N-803 plus BCG for BCG-unresponsive non-muscle invasive bladder cancer.'

"Our Company, scientists, physicians, and Board are grateful to Dr. Soon-Shiong for his continued financial support of our Company and its important mission, as well as for his involvement in our day-to-day operations," commented Richard Adcock, Chief Executive Officer and President of ImmunityBio.

"With this additional financing, we are well positioned to execute our commercialization plans in anticipation of the approval of N-803 plus BCG in bladder cancer."

"This funding will also help support the planned expansion of our current clinical trials and the opening of new studies to explore the untapped potential of N-803 and our other platforms across multiple indications."

N-803 Plus BCG is a therapy to treat adults with non-muscle-invasive Bladder Cancer carcinoma in situ with or without Ta/T1 papillary disease. 

Its mechanism of action is direct specific stimulation of CD8+ T cells and NK cells through beta gamma T-cell receptor binding (not alpha) while avoiding T-reg stimulation.

The U.S. FDA is reviewing the Biologics License Application for N-803 plus BCG.