American billionaire surgeon, CEO & philanthropist
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Patrick Soon-Shiong(Chinese;pinyinHung Xnxing,Mandarin pronunciation:[xǔ̯ŋ ɕn ɕǐ̯ŋ]; born July 29, 1952) is a South African-bornChinese Americansurgeon, entrepreneur, and philanthropist. He is chair of NantWorks, LLC,2executive director of theWireless Health Instituteat theUniversity of California at Los Angeles, and an adjunct professor of surgery at UCLA.34self-published source?He is chair of the Chan Soon-Shiong Family Foundation, and chair and CEO of the Chan Soon-Shiong Institute for Advanced Health,National LambdaRail(which ceased to exist in 2014), and the Healthcare Transformation Institute.2Soon-Shiong has been a minority owner of theLos Angeles Lakerssince 2010. Since 2018, he has been the owner of theLos Angeles TimesandThe San Diego Union-Tribune.5In April 2016, theLos Angeles Timesreported him to be one of the highest-paid CEOs for 2015.6As of November2016update, Soon-Shiong was estimated byForbesas having a net worth ofUS$9billion, ranking him 47 among US billionaires. As of December 2016, he has 92 US and 138 international patents.1
Soon-Shiong was born inPort Elizabeth, South Africa to Chineseimmigrant parentswho fled from China during theJapanese occupationin World War II.78His parents were originally fromToisaninGuangdongprovince.87His ancestral surname is Wong (Huang ).8
Soon-Shiong graduated 4th out of his class of 189 from theUniversity of Witwatersrand, receiving a bachelors degree in medicine (MBBCh) at age 23.9He completed his medical internship at Johannesburgs General Hospital.10when?He then studied at theUniversity of British Columbia, where he earned a masters degree in 1979,11with research awards from theAmerican College of Surgeons, the Royal College of Physicians and Surgeons of Canada, and the American Association of Academic Surgery.12
He moved to the United States and began surgical training atUniversity of California, Los Angeles(UCLA), and became a board-certified surgeon in 1984.13Soon-Shiong is a Fellow of the Royal College of Surgeons (Canada) and aFellow of the American College of Surgeons.123
Soon-Shiong joinedUCLA Medical Schoolin 1983 and served on that faculty until 1991,143self-published source?as a transplant surgeon.7Between 1984 and 1987, he served as an associate investigator at the Center for Ulcer Research and Education.3self-published source?Soon-Shiong performed the first whole-pancreas transplant done at UCLA,when?1516and he developed and first performed the experimentalType 1 diabetes-treatment known as encapsulated-human-islet transplant,when?and the first pig-to-man islet-cell transplant in diabetic patients.when?15bettersourceneededAfter a period in industry, he returned to UCLA in 2009,citation neededserving as a professor of microbiology, immunology, molecular genetics and bioengineering until this date.when?citation neededSoon-Shiong served as a visiting professor at Imperial College, London in 2011.17
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 toFresenius SEfor $4.6 billion in July 2008.18Soon-Shiong later foundedAbraxis BioScience(maker of the drugAbraxanehe co-discovered),19a company he sold toCelgenein 2010 in cash-and-stock deal, valued at over $3 billion.20
Soon-Shiong foundedNantHealthin 2007 to provide fiber-optic, cloud-based data infrastructure to share healthcare information.21Soon-Shiong went on to foundNantWorksin 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.2223In October 2012, Soon-Shiong announced that NantHealths 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 asThe Cancer Genome Atlas.24In January 2013, he founded another biotech company,NantOmics, to develop cancer drugs based onprotein 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.25
In 2010, withArizona State Universityand theUniversity of Arizona, Soon-Shiong founded the Healthcare Transformation Institute (HTI), which he dubs a do-tank.26self-published source?HTIs mission is to promote a paradigm shift in health care in the United States by better integrating the three now separate domains of medical science, health delivery, and healthcare finance.227In 2014, Soon-Shiong funded online streaming music serviceAccuRadio, investing $2.5 million into the first round of funding for Americas fastest-growing music webcaster.28In July 2015, Soon-Shiong initiated anIPOforNantKwest(formerly ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion.29In April 2016, theLos Angeles Timesreported that Soon-Shiong received a pay package in 2015 from NantKwest worth almost $148 Million, making him one of the highest paid CEOs.6Soon-Shiong is also a member of theBerggruen Institutes 21st Century Council.3031
In 2014 Soon-Shiong made a $12 million donation to theUniversity of Utah.32An audit three years later found several legal violations. As part of the donation, the university was required to use Soon-Shiongs company for the services required for the research, at a total cost of $10 million. NantHealth set the price for DNA sequencing at $10,000 per sample, while auditors found that other companies charged between $2,900 and $5,000 for the same service.33Legal experts referred to it as money laundering,3435or perhaps a technique to receive tax deductions for an investment in Soon-Shiongs own company.
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.36He has also met numerous times with former Vice 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.37
In early January 2017, as announced bySean Spicer, then President-electDonald Trumpmet with Soon-Shiong at hisBedminster, NJestate to discuss national medical priorities.38
In February 2018, theLos Angeles Timesreported that Soon-Shiongs investment firm Nant Capital reached a deal to purchase the paper andThe San Diego Union-TribunefromTronc Inc.for nearly $500 million in cash as well as the assumption of $90 million in pension obligations.39Soon-Shiong, with this acquisition became one of the first Asian-Americans to become amedia proprietorthrough ownership in a major daily newspaper in the United States.40The sale closed on June 18, 2018.5
In September 2018, his companyNantEnergyannounced the development of azinc air batterywith a projected cost of $100 per kilowatt-hour (less than one-third the cost oflithium-ion batteries).41
He is married toMichele B. Chan, lives in Los Angeles, California, and has two children, daughter Nika and son Luke.1
Forbes Staff.Forbes profile: Patrick Soon-Shiong.
Moukheiber, Zina (2011-11-10).Billionaire Patrick Soon-Shiong Wants To Remake The U.S. Health Care System
. UCLA. Archived fromthe originalon 3 April 2015
. UCLA Engineering. Archived fromthe originalon 2015-11-05
Soon-Shiong, P. (2008).Curriculum Vitae. Patrick Soon-Shiong, M.D., MSc, FRCS(C), FACS
Soon-Shiong, P. (2016).Patrick Soon-Shiong, M.D., FRCS (C), FACS.
tronc, Inc. Announces Closing of the Los Angeles Times and The San Diego Union-Tribune Sale(Press release). Chicago:Tronc. June 18, 2018
Petersen, Melody (2016-04-27).L.A. Billionaire Soon-Shiong Gets $148-Million Payday Even as His Firms Stock Tanks
Whitford, David [with Jones, Marty] (2013-12-09).Whitford, David
CS1 maint: Multiple names: authors list (link)
GoldSea Staff (c. 2010).Biotech Kahuna Patrick Soon-Shiong.
Who is Patrick Soon-Shiong? An L.A. billionaire with big ideas and mixed achievements.
Fundic Inhibition of Acid Secretion and Gastrin Release (Masters Thesis). October 1979
Patrick Soon-Shiong – Alumni Achievers – News – News & Events – Alumni – Wits University. 13 April 2015. Archived from the original on 13 April 2015.
CS1 maint: BOT: original-url status unknown (link)
Wileen Wong Kromhout (May 21, 2009).UCLA names Soon-Shiong executive director of Wireless Health Institute.
Light, Leti McNeill (2015).Visions of Progress and Courage Dr. Patrick Soon-Shiong Medical Visionary Award
Wholepancreas transplantationbegan as a part of multi-organ transplants, in the mid-to-late 1960s, at theUniversity of Minnesota. See
Squifflet, J.P.; Gruessner, R.W.; Sutherland, D.E. (2008). The History of Pancreas Transplantation: Past, Present and Future.
The first attempt to cure type 1 diabetes by pancreas transplantation was done at the University of Minnesota, in Minneapolis, on December 17, 1966 [This] opened the door to a period, between the mid-[1970s] to mid-[1980s] where only segmental pancreatic grafts were used… In the late [1970s] early [1980s], three major events boosted the development of pancreas transplantation [At] the Spitzingsee meetings, participants had the idea to renew the urinary drainage technique of the exocrine secretion of the pancreatic graft with segmental graft and eventually with whole pancreaticoduodenal transplant. That was clinically achieved during the mid-[1980s] and remained the mainstay technique during the next decade. In parallel, the Swedish group developed the whole pancreas transplantation technique with enteric diversion. It was the onset of the whole pancreas reign. The enthusiasm for the technique was rather moderated in its early phase due to the rapid development of liver transplantation and the need for sharing vascular structures between both organs, liver and pancreas. During the modern era of immunosuppression, the whole pancreas transplantation technique with enteric diversion became the gold standard [for SPK, PAK, PTA].
Visionary healthcare entrepreneur and philanthropist, Dr. Patrick Soon-Shiong, to speak at UCLA Engineering commencement UCLA Engineering. May 6, 2011. Archived fromthe originalon 22 May 2012.
Angela Cullen; Eva von Schaper (2008-07-07).Fresenius Agrees to Buy APP for Up to $4.6 BillionBloomberg News. Archived fromthe originalon 2016-08-27
The discovers on the key patents wereN.P. Desai, Soon-Shiong,P.A. SandfordM.W. Grinstaff, andK.S. Suslick, addingK. S. Wongto the two 1997 patents (see Further reading).
Crowe, Deborah (18 October 2010).Celgene Closes Abraxis AcquisitionLos Angeles Business Journal
Company Overview of NantHealth, LLC. Bloomberg Businessweek. 27 February 2013
Shawn Baldwin(September 20, 2014).Dr. Patrick Soon Shiong Generates Billions of Value Creation in Medicine.
Soon-Shiongs big rollup gets a name: NantWorks
McBride, Ryan (4 October 2012).Biotech billionaires supercomputer cuts cancer analysis to 47 seconds. fiercebiotechit.com
Cancer Researcher-Turned-Billionaire Starts New Company
Crow, Patrick & Soon-Shiong, Pattrick (2012-09-05).
Patrick Soon-Shiong Talks With ASUs Michal Crow about the Imminent, Hoped-For Healthcare Revolution
Hill, Brad (5 September 2014).Kurt Hansons AccuRadio raises $2.5-million fundingRAINNews.com.
Driebusch, Corrie (2015-07-28).NantKwest Gives Biotech Another Big IPO.
Berggruen Institute. Archived fromthe originalon 2017-01-06
Palmeri, Christopher.Homeless Billionaire Charms L.A. With $500 Million GiftBloomberg News, May 4, 2016
Rebecca Robbins, STAT.The worlds richest doctor gave away millions then directed the money back to his own company
Utah audit finds legal violations in universitys deal with Patrick Soon-Shiong.
Three times Soon-Shiongs philanthropy raised questions.
Hughes questions whether University of Utah had a Cinderella-slippered deal when it directed donation money back to donors company.
Rival drug firms team up to test new cancer treatment approach.
Baker, Peter (2015-11-01).If Cancer Becomes Bidens Cause, a Bold but Polarizing Doctor Is On Call.
The full transcript from the Trump transition teams Tuesday call to reporters. Washington Post. January 10, 2017
Billionaire Patrick Soon-Shiong reaches deal to buy L.A. Times, San Diego Union-Tribune. February 7, 2018
How Zinc Batteries Could Change Energy Storage
Businesspeople in the pharmaceutical industry
David Geffin School of Medicine at UCLA faculty
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This page was last edited on 1 May 2019, at 07:39