In the latest dust-up involving Dr. Patrick Soon-Shiong, a fledgling drug maker alleges the controversial entrepreneur “masterminded” a “catch-and-kill” scheme to rob it of a potentially valuable cancer medicine that might have one day saved the U.S. health care system more than $1 billion.
At issue is a deal that took place four years ago for a chemotherapy that Sorrento Therapeutics was developing to rival Abraxane, a blockbuster breast cancer treatment sold by Celgene (CELG). At the time, Soon-Shiong was the largest Celgene shareholder, after having sold Abraxane to the biotech in 2010 for $2.9 billion.
In a lawsuit filed in a California state court, Sorrento alleged that Soon-Shiong conspired to thwart its efforts to successfully commercialize its drug, which is called Cynviloq.
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