PDS Biotech raises up to $23M in PIPE led by Soon-Shiong's Nant Capital
What's the deal? PDS Biotechnology CorporationDealroom has a profile for this one. Try Dealroom → (Nasdaq: PDSB), a clinical-stage cancer immunotherapy company, has raised up to $22.55 million in a private investment in public equity (PIPE) transaction. Nant Capital, LLCDealroom has a profile for this one. Try Dealroom → led the round, with additional participation from current investors. Nant founder Dr. Patrick Soon-Shiong will join PDS Biotech's board of directors.
How it's structured: The PIPE has two parts. An initial closing, expected on or about September 11, 2026, is set to bring in about $11.55 million. A contingent milestone closing worth up to $11 million — $10 million from Nant and $1 million from AB Group Ltd.Dealroom has a profile for this one. Try Dealroom → — triggers when PDS Biotech submits a Phase 3 trial protocol for its lead candidate to the US Food and Drug Administration.
What's the endgame? The money is meant to push PDS0301 — also called PDS01ADC — into late-stage clinical development. The candidate targets microsatellite stable and mismatch repair-proficient metastatic colorectal cancer, forms of the disease that have responded poorly to existing immunotherapy.
Why now? The raise follows interim Phase 2 data from a National Cancer InstituteDealroom has a profile for this one. Try Dealroom →-led trial. Adding PDS0301 to standard care in 22 patients was well tolerated, with 80% surviving at least 24 months — a group whose median overall survival is historically under 12 months.
What could go wrong? The larger milestone tranche is contingent on submitting a Phase 3 protocol to the FDA, so a chunk of the capital is not yet secured. Late-stage cancer trials carry high failure risk, and the strong early data comes from a small patient group.
The signal: The deal ties a well-known investor to a specific clinical milestone, giving PDS Biotech capital and board weight to move into pivotal trials. Nant is also taking a one-year exclusive right to negotiate a license for PDS0101, a separate HPV-targeted immunotherapy — a sign of deeper strategic interest beyond the funding itself.
Read more: Business Insider
Image credit: Generated with Gemini
