Soon-Shiong (left) awarded 2016 Pontifical Key Visionary Award
July 29, 1952|
Port Elizabeth, South Africa
University of Witwatersrand (MBBCh)|
University of British Columbia (MS)
co-discovery of Abraxane|
pancreatic islet cell transplant techniques
|Net worth||US$9 billion (November 2016)|
Patrick Soon-Shiong (Chinese: 黄馨祥; pinyin: Huáng Xīnxiáng, Mandarin pronunciation: [xu̯ɑ̌ŋ ɕín ɕi̯ɑ̌ŋ]; born July 29, 1952) is a South African-born American surgeon, professor and researcher, entrepreneur, businessman, and philanthropist. He is currently chair of NantWorks, LLC, Executive Director of the Wireless Health Institute at the University of California at Los Angeles, an Adjunct Professor of Surgery at UCLA, and a visiting Professor at the Imperial College London. He is also chair of the Chan Soon-Shiong Family Foundation and chair and CEO of the Chan Soon-Shiong Institute for Advanced Health, National LambdaRail, and the Healthcare Transformation Institute. Soon-Shiong has been a minority owner of the Los Angeles Lakers since 2010. In April 2016, the Los Angeles Times reported him to be one of the highest paid CEOs for 2015. As of November 2016, Soon-Shiong was estimated by Forbes as having a net worth of US$9 billion, ranking him #47 among US billionaires.
Early life and education
Soon-Shiong was born in Port Elizabeth, South Africa to Chinese immigrant parents who fled from China during the Japanese occupation in World War II. His parents were originally from Taishan in Guangdong, China, from among the Hakka people and language group. He graduated from high school at age 16.
University and post-graduate training/medicine
Soon-Shiong studied on scholarship and graduated 4th out of his class of 189 from the University of Witwatersrand, receiving a combined Bachelor of Medicine, Bachelor of Surgery (MBBCh) medical degree at age 23. He completed his medical internship at Johannesburg’s General Hospital. He then studied at the University of British Columbia, where he earned a MSc degree, with research awards from the American College of Surgeons, the Royal College of Physicians and Surgeons of Canada, and the American Association of Academic Surgery (the first resident of the university to do so). He moved to the United States and began surgical training at University of California, Los Angeles (UCLA), and became a board-certified surgeon. Soon-Shiong is a Fellow of the Royal College of Surgeons (Canada) and a Fellow of the American College of Surgeons.Soon-Shiong joined UCLA Medical School in 1983 and served on that faculty until 1991, during which time he was a practicing transplant surgeon. Between 1984 and 1987, he served as an associate investigator at the Center for Ulcer Research and Education. Soon-Shiong performed the first whole-pancreas transplant done at UCLA, and he developed and first performed the experimental Type 1 diabetes-treatment known as encapsulated-human-islet transplant, and the "first pig-to-[hu]man islet-cell transplant in diabetic patients." After a period in industry, he returned to UCLA in 2009, serving as a professor of microbiology, immunology, molecular genetics and bioengineering until this date.. Soon-Shiong served as a Visiting Professor at Imperial College, London in 2011.
In 1991, Soon-Shiong left UCLA to start a diabetes and cancer biotechnology firm. This led to the founding in 1997 of APP Pharmaceuticals (APP), which he held 80% of outstanding stock and sold to Fresenius SE for $4.6 billion in July 2008. Soon-Shiong later founded Abraxis BioScience (maker of the drug Abraxane he co-discovered), a company he sold to Celgene in 2010 in cash-and-stock deal, valued at over $3 billion.(subscription required)
Soon-Shiong founded NantHealth in 2007 to provide fiber-optic, cloud-based data infrastructure to share healthcare information. Soon-Shiong went on to found NantWorks in September 2011, which 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." In October, 2012, Soon-Shiong announced that NantHealth’s 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 as The Cancer Genome Atlas. In January 2013, he founded another biotech company, NantOmics, to develop cancer drugs based on protein 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.
In 2010, with Arizona State University and the University of Arizona, Soon-Shiong founded the Healthcare Transformation Institute (HTI), which he dubs a "do-tank". HTI's 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.In 2014, Soon-Shiong funded online streaming music service AccuRadio, investing $2.5 million into the first round of funding for America's fastest-growing music webcaster. In July 2015, Soon-Shiong initiated an IPO for NantKwest (formerly ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion. In April 2016, the Los Angeles Times reported that Soon-Shiong received a pay package in 2015 from NantKwest worth almost $148 Million, making him one of the highest paid CEOs.
- Forbes Staff (2016-11-20). "Forbes 400: Patrick Soon-Shiong". Forbes.com. Retrieved 2016-11-20.
- Moukheiber, Zina (2011-11-10). "Billionaire Patrick Soon-Shiong Wants To Remake The U.S. Health Care System" (online). Forbes. Retrieved 2016-11-20.
- Self-published academic biographies providing these details include "Patrick Soon-Shiong, M.D.". UCLA Engineering. UCLA. Archived from the original on 3 April 2015. Retrieved 3 April 2015., Soon-Shiong, P. (2015). "Patrick Soon Shiong". Institute for Technology Advancement. UCLA Engineering. Retrieved 2015-11-05., and Soon-Shiong, P. (2008). "Curriculum Vitae. Patrick Soon-Shiong, M.D., MSc, FRCS(C), FACS" (pdf). INC5. California NanoSystems Institute. Retrieved 2015-11-04.
- Self-published industry biographies providing these details include Soon-Shiong, P. (2016). "Patrick Soon-Shiong, M.D., FRCS (C), FACS". NantKwest.com. Retrieved 2016-11-21.
- Petersen, Melody (2016-04-27). "L.A. Billionaire Soon-Shiong Gets $148-Million Payday Even as His Firm's Stock Tanks" (online). Los Angeles Times. Retrieved 2016-11-20.
- Whitford, David [with Jones, Marty] (2013-12-09). "Who's the Richest Guy in Los Angeles?" (print and online). Fortune. pp. 138–140. Retrieved 2016-11-20.
- GoldSea Staff (ca. 2010). "Biotech Kahuna Patrick Soon-Shiong". GoldSea.com. Retrieved 2016-11-21. Check date values in:
- Armstrong, David (2003-06-10). "Vindication". Forbes.com. Retrieved 2015-04-13.
- Light, Leti McNeill (2015). "Visions of Progress and Courage [Dr. Patrick Soon-Shiong — Medical Visionary Award]" (print and online). U Magazine (Spring): 42f. Retrieved 2016-11-20.
- Whole pancreas transplantation began as a part of multi-organ transplants, in the mid-to-late 1960s, at the University of Minnesota. See Squifflet, J.P.; Gruessner, R.W. & Sutherland, D.E. (2008). "The History of Pancreas Transplantation: Past, Present and Future". Acta Chir Belg. 108 (3, May-June): 367–378. Retrieved 2016-11-21.
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 70's to mid 80's where only segmental pancreatic grafts were used... In the late 70's-early 80's, 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 80's 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].
- Angela Cullen; Eva von Schaper (2008-07-07). "Fresenius Agrees to Buy APP for Up to $4.6 Billion". Bloomberg News. Retrieved 2016-08-26.
- The discovers on the key patents were N.P. Desai, Soon-Shiong, P.A. Sandford, M.W. Grinstaff, and K.S. Suslick, adding K. S. Wong to the two 1997 patents (see Further reading).
- Crowe, Deborah (18 October 2010). "Celgene Closes Abraxis Acquisition". Los Angeles Business Journal. Retrieved 20 October 2010.(subscription required)
- "Company Overview of NantHealth, LLC". Bloomberg Businessweek. 27 February 2013. Retrieved 27 February 2013.
- Shawn Baldwin (September 20, 2014). "Dr. Patrick Soon Shiong Generates Billions of Value Creation in Medicine". Fast Company.
- Dolan, Brian (Sep 8, 2011). "'Soon-Shiong's big rollup gets a name: NantWorks'". Retrieved 24 January 2012.
- McBride, Ryan (4 October 2012). "Biotech billionaire's supercomputer cuts cancer analysis to 47 seconds". fiercebiotechit.com. Retrieved 27 February 2013.
- Tirrell, Meg (2013-01-28). "Cancer Researcher-Turned-Billionaire Starts New Company". Bloomberg.com. Retrieved 2013-02-26.
- Soon-Shiong, Patrick (Sep 8, 2011). "'Message from the CEO and President'". Retrieved 9 April 2012.
- Crow, Patrick & Soon-Shiong, Pattrick (2012-09-05). "'Patrick Soon-Shiong Talks With ASU's Michal Crow about the Imminent, Hoped-For Healthcare Revolution'".
- Hill, Brad (5 September 2014). "Kurt Hanson's AccuRadio raises $2.5-million funding". RAINNews.com.
- Driebusch, Corrie (2015-07-28). "NantKwest Gives Biotech Another Big IPO". Wall Street Journal. Retrieved 2016-11-21.
- Desai, N. P.; Soon-Shiong, P.; Sandford, P. A.; Grinstaff, M. W.; Suslick, K. S.; "Methods for In Vivo Delivery of Substantially Water Insoluble Pharmacologically Active Agents and Compositions Useful Therefor"; Aug. 8, 1995.
- Desai, N. P.; Soon-Shiong, P.; Sandford, P. A.; Grinstaff, M. W.; Suslick, K. S.; "Composition Useful for In Vivo Delivery of Biologics and Methods Employing Same"; Mar. 12, 1996.
- Desai, N. P.; Soon-Shiong, P.; Sandford, P. A.; Grinstaff, M. W.; Suslick, K. S.; "Methods for In Vivo Delivery of Substantially Water Insoluble Pharmacologically Active Agents and Compositions for the Use Thereof"; Oct. 1, 1996.
- Grinstaff, M. W.; Soon-Shiong, P.; Wong, M.; Sandford, P. A.; Suslick, K. S.; Desai, N. P. "Methods for the Preparation of Blood Substitutes for In Vivo Delivery”; June 3, 1997.
- Grinstaff, M. W.; Soon-Shiong, P.; Wong, M.; Sandford, P. A.; Suslick, K. S.; Desai, N. P. "Methods for the Preparation of Pharmaceutically Active Agents for In Vivo Delivery”; Sept. 9, 1997.