NantWorks invests $50M in Precision Biologics

NantWorks LLC (Los Angeles, Calif.) invested $50 million in Precision Biologics Inc. (Dallas, Texas), giving it a majority stake in the company.

Precision Biologics is developing a pipeline of mAbs and companion diagnostics to treat solid tumor cancers. It is conducting a Phase IIa study of lead candidate ensituximab ( NEO-102) to treat advanced pancreatic and colorectal cancer. The chimeric mAb targeting a variant of musin 5AC oligomeric mucus/gel forming ( MUC5AC) is also in a Phase IIb trial in patients with metastatic pancreatic cancer. It has Orphan Drug designation from FDA to treat pancreatic cancer. ...