You don’t hear ‘catch-and-kill’ every day
DR. PATRICK SOON-SHIONG (DARREN MCCOLLESTER/GETTY IMAGES)
And yet that’s exactly what Dr. Patrick Soon-Shiong, the billionaire biotech entrepreneur, is accused of doing in one of his labyrinthine partnerships.
As STAT’s Ed Silverman reports, a company called Sorrento Therapeutics is suing Soon-Shiong and claiming that he licensed its lead cancer drug only to sandbag its development to protect a therapy he invented. According to the suit, Soon-Shiong “masterminded” a “catch-and-kill” scheme, leaving Sorrento’s treatment to gather dust and lose patent protection while Abraxane, a drug he previously sold to Celgene, survived without competition.
It’s not the first time one side of a Soon-Shiong deal has found itself aggrieved and litigious. The last one involved Cher. But that, like the shareholder lawsuits filed against Soon-Shiong’s NantHealth, came to nothing. We’ll see whether the Sorrento case fares differently.
Read more.
As STAT’s Ed Silverman reports, a company called Sorrento Therapeutics is suing Soon-Shiong and claiming that he licensed its lead cancer drug only to sandbag its development to protect a therapy he invented. According to the suit, Soon-Shiong “masterminded” a “catch-and-kill” scheme, leaving Sorrento’s treatment to gather dust and lose patent protection while Abraxane, a drug he previously sold to Celgene, survived without competition.
It’s not the first time one side of a Soon-Shiong deal has found itself aggrieved and litigious. The last one involved Cher. But that, like the shareholder lawsuits filed against Soon-Shiong’s NantHealth, came to nothing. We’ll see whether the Sorrento case fares differently.
Read more.
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