NantWorks to Invest $85.5 Million, Creating New Jobs & Drugs
California-based NantWorks, LLC, recently announced plans to locate a new pharmaceutical manufacturing plant in
“With the strength of our life sciences industry and a first-class work force, it’s no surprise that innovative companies from high-tax, business-hostile states continue to choose
Dr. Patrick Soon-Shiong, Chairman and CEO of NantWorks, has previously developed two pharmaceutical companies addressing the unmet needs of critically ill patients. His injectable drug company APP was the nation’s only safe source of heparin during a supply crisis in 2008, and his biopharmaceutical company Abraxis Bioscience developed the world’s first protein nanoparticle cancer drug for breast cancer. Dr. Soon-Shiong sold these companies in 2008 and 2010, raising several billion dollars to pursue his vision of personalized medicine.
“As a country, we need to develop and enhance our capabilities to manufacture injectable and next-generation drugs in
The Indiana Economic Development Corporation offered NantWorks, LLC up to $2 billion in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
“NantWorks’ proposed acquisition and subsequent redevelopment of the former Pfizer property exceeds our greatest expectations for the property,” said Mike Ciolli, President of the Vigo County Board of Commissioners. “We couldn’t be more thrilled.”
NantWorks, LLC is a company founded and led by Dr. Patrick Soon-Shiong. Its core mission is to converge a wide range of technologies to transform scientific research and healthcare. It is building an integrated evidence-based, genomically informed, personalized approach to the delivery of care and the development of next-generation diagnostics and therapeutics.
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