– USA, IL – Avenacy, a specialty pharmaceutical company focused on supplying critical injectable medications, announced the appointment of Dr. Patrick Soon-Shiong (MD), to its Board of Directors as major Investor and Co-founder.
Principal ownership of the Company will be split between Dr. Patrick Soon-Shiong and initial investors Jeff Yordon and Kam Phulwani.
About Dr. Patrick Soon-Shiong
Dr. Patrick Soon-Shiong is a businessman, investor, surgeon, scientist, and physician. He currently serves as the Chairman and CEO of NantWorks, a group of companies that he founded in 2011 to create a transformative global health information and next-generation pharmaceutical development network. From 1997 to 2010, Dr. Soon-Shiong served as founder, Chairman, and CEO of two public pharmaceutical companies, APP and Abraxis BioScience. Both companies were acquired by 2010 for valuations exceeding $8 billion. Under his leadership, APP was responsible for the safe supply of Heparin during the 2008 Heparin crisis in the United States. Throughout Dr. Soon-Shiong’s career, he has pioneered novel therapies for both diabetes and cancer, including the revolutionary drug Abraxane, which has received U.S. Food and Drug Administration (FDA) approval for the treatment of metastatic breast cancer, lung cancer, and advanced pancreatic cancer in both the U.S. and E.U. Abraxane has achieved blockbuster status with over $1 billion in sales and is now owned by Bristol Myers Squibb. In 2024, Dr. Soon-Shiong’s immunotherapy company ImmunityBio received approval for a first-in-class IL-15 fusion protein, Anktiva, for the treatment of bladder cancer. Additionally, he has published more than 100 scientific papers and has been granted more than 600 patents worldwide for groundbreaking advancements spanning myriad fields of technology and medicine. Dr. Soon-Shiong is a visiting Professor at the Imperial College of London. He received his medical degree from the University of Witwatersrand, Johannesburg, and was an Assistant Professor of Surgery at UCLA.
“As a medical professional, I care deeply about ensuring patients receive safe, high-quality medications, and I standby Avenacy’s commitment to patient care,” said Dr. Patrick Soon-Shiong. “I am proud to join Avenacy as a co-founder and invest in the growth of their portfolio so they can continue to provide critical medicines to patients and address the dire drug shortages impacting the country today. I believe that Avenacy holds immense promise as an emerging player in the specialty pharmaceutical space, and I look forward to supporting the team as they continue to establish themselves as a trusted partner to hospitals and providers for essential medications.”
About Avenacy
Avenacy is a U.S.-based specialty pharmaceutical company focused on supplying critical injectable medications used to treat patients in various medically supervised settings, from acute care hospitals to outpatient clinics and physician offices. Through a rigorous and optimized selection process, the Company is building out a pipeline of high-quality FDA-approved injectable products to ensure a resilient portfolio that can meet the needs of today’s dynamic drug supply chain. With an experienced team, commitment to quality and reliability, and product offerings intended to facilitate safe and efficient patient care, Avenacy strives to be a trusted partner for essential medications.
For more information: https://www.avenacy.com/
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