{"id":1003327,"date":"2026-09-14T12:53:59","date_gmt":"2026-09-14T16:53:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-announces-initial-closing-of-up-to-22-3-million-pipe-financing-and-the-appointment-of-dr-patrick-soon-shiong-to-its-board-of-directors\/"},"modified":"2026-09-14T12:53:59","modified_gmt":"2026-09-14T16:53:59","slug":"pds-biotech-announces-initial-closing-of-up-to-22-3-million-pipe-financing-and-the-appointment-of-dr-patrick-soon-shiong-to-its-board-of-directors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-announces-initial-closing-of-up-to-22-3-million-pipe-financing-and-the-appointment-of-dr-patrick-soon-shiong-to-its-board-of-directors\/","title":{"rendered":"PDS Biotech\u00a0Announces Initial Closing of\u00a0up to $22.3 Million PIPE Financing\u00a0and the Appointment of Dr. Patrick Soon-Shiong to Its Board of Directors"},"content":{"rendered":"
\n

\n Gross Proceeds of $11.3 Million at Initial Closing<\/em>\n <\/p>\n

\n Transaction Led by Dr. Patrick Soon-Shiong, Founder of\u00a0NantWorks<\/em>\n <\/p>\n

PRINCETON, N.J., Sept. 14, 2026 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotech” or the “Company”), a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer, today announced the initial closing (the \u201cInitial Closing\u201d) of the Company\u2019s Private Investment in Public Equity (\u201cPIPE\u201d) transaction. The round was led by Nant Capital, LLC (\u201cNant\u201d) with additional participation by current investors. The PIPE also consists of a contingent milestone closing (the \u201cMilestone Closing\u201d) as described below.<\/p>\n

At the Initial Closing, the Company sold (i) shares of the Company\u2019s common stock (the \u201cPrivate Placement Shares\u201d) or, at the election of an investor, pre-funded warrants in lieu of such shares (\u201cPre-Funded Warrants\u201d), and (ii) accompanying common stock purchase warrants (\u201cCommon Warrants\u201d). Each unit consisting of one Private Placement Share and a Common Warrant to purchase one-half of one Private Placement Share (\u201cCommon Warrants\u201d) was issued for $0.2825 (the \u201cShare Unit Purchase Price\u201d), and each unit consisting of one Pre-Funded Warrant to purchase one share of Common Stock and a Common Warrant to purchase one-half of one share of Common Stock was issued for $0.28217 (the \u201cPre-Funded Unit Purchase Price\u201d). The aggregate gross proceeds and the aggregate number of Private Placement Shares, Pre-Funded Warrants and Common Warrants issued as part of the Initial\u00a0Closing were approximately $11.3 million, and 16,502,870, 23,498,156 and 20,000,514, respectively.<\/p>\n

The Company intends to use the net proceeds from the private placement to repay outstanding indebtedness and for working capital and general corporate purposes, including the continued development of its clinical programs, research and development, and general and administrative expenses. The Company also expects that the\u00a0PIPE will\u00a0advance PDS0301 (also referred to as PDS01ADC or NHS-IL12) into\u00a0late-stage\u00a0clinical development,\u00a0based on\u00a0recent\u00a0promising interim Phase 2 clinical trial data in\u00a0microsatellite stable (MSS)\u00a0and\u00a0mismatch repair-proficient (pMMR)\u00a0metastatic colorectal cancer\u00a0(mCRC), types of colorectal cancer that have\u00a0not responded well to treatment with immunotherapy.\u00a0Patients with MSS and\u00a0pMMR\u00a0mCRC with liver metastases\u00a0historically\u00a0have dire treatment outcomes, with median overall survival of less than 12 months.* \u00a0In a National Cancer Institute\u00a0(NCI)\u00a0led Phase 2 trial, the addition of PDS0301 to standard of care therapy in 22 patients was well tolerated, and demonstrated\u00a0deep\u00a0and long-lasting\u00a0tumor shrinkage\u00a0and survival, with 80% of patients surviving for at least 24 months.<\/p>\n

At the Milestone Closing, which will be triggered by the Company\u2019s submission of a registrational Phase 3 clinical trial protocol for PDS0301 designed in collaboration with Nant to the FDA, Nant and AB Group Ltd. will be obligated to purchase and the Company will be obligated to issue to each of Nant and AB Group Ltd., shares of common stock or Pre-Funded Warrants in lieu thereof for an aggregate purchase price of $10,000,000 and $1,000,000, respectively, subject to the satisfaction or waiver of the applicable closing conditions. The number of securities purchased by any investor will be subject to a 19.9% beneficial ownership limitation.<\/p>\n

In addition to the PIPE transaction, and for additional consideration, the Company\u00a0granted \u00a0NantWorks,\u00a0LLC, an affiliate of Nant, a one-year exclusive right\u00a0to negotiate\u00a0an exclusive license\u00a0to\u00a0PDS0101, the Company\u2019s\u00a0novel investigational human papilloma virus targeted immunotherapy that stimulates a potent targeted T cell attack against HPV-positive cancers. The option has a term of one year.<\/p>\n

Effective as of the Initial Closing, Dr. Soon-Shiong and Mr. James Banaag, who currently serves the as chief financial officer of NantBio, Inc., will join the Company\u2019s board of directors.<\/p>\n

Dr. Soon-Shiong commented, \u201cPDS Biotechnology is developing promising novel cancer vaccines and immunocytokines that have demonstrated the potential to harness the power of the immune system to transform cancer care.\u00a0\u00a0This is an area of significant interest for me, and I am pleased to join the board of directors and to be able to contribute towards the advancement of these therapies that are aimed at addressing difficult-to-treat cancers.\u201d\u00a0<\/p>\n

Dr. Frank Bedu-Addo,\u00a0founder and CEO of\u00a0PDS Biotechnology stated, \u201cWe believe that the ongoing clinical trials of our IL-12 immunocytokine PDS0301 at the NCI strongly suggest that PDS0301 has the potential to\u00a0advance the treatment of solid tumors with immunotherapy. \u00a0We also believe that clinical trials of our cancer vaccine platform demonstrate the potential to advance the field of targeted T cell immunotherapy. We are extremely pleased\u00a0that\u00a0Dr. Soon-Shiong and\u00a0NantWorks\u00a0share our belief in the promise of\u00a0our immunotherapy platforms. Dr. Soon-Shiong is a\u00a0highly accomplished\u00a0physician\u00a0scientist, biotechnology entrepreneur and investor\u00a0who\u00a0has developed successful cancer therapies\u00a0including an FDA approved\u00a0immunocytokine. \u00a0We are honored to\u00a0welcome Dr. Soon-Shiong to the company\u2019s board of directors.”<\/p>\n

Dr. Soon-Shiong, is an internationally recognized physician, surgeon, scientist, and philanthropist who is the author of over 100 peer-reviewed scientific publications and over 500 patents issued worldwide. Dr. Soon-Shiong is the Executive Chairman of ImmunityBio (NASDAQ: IBRX), a company he founded in 2014. He also serves as Chairman of NantHealth (NASDAQ:NH), a transformational healthcare company converging biomolecular medicine and bioinformatics to simplify healthcare. He is also the Chairman and CEO of the Chan Soon-Shiong Institute of Molecular Medicine, a non-profit medical research organization. Dr. Soon-Shiong is also the Owner and Executive Chairman of the Los Angeles Times.<\/p>\n

Dr. Soon-Shiong has founded and led global pharmaceutical companies, including American Pharmaceutical Partners, Abraxis BioScience and ImmunityBio. At Abraxis he developed Abraxane, which became the first protein nanoparticle drug for breast, lung, and pancreatic cancers. The drug achieved blockbuster status with annual sales exceeding a billion dollars. Dr. Soon-Shiong\u2019s contribution to the advancement of the oncology field has been honored with the Distinguished Medical Science award by the Smithsonian National Museum of American History where Abraxane is now permanently housed. He has also been honored by the Vatican with the Pontifical Key Visionary Award.<\/p>\n

Dr. Soon-Shiong received his medical degree at the University of Witwatersrand, Johannesburg, South Africa and continued his training in surgery at the University of California Los Angeles where he performed the first West Coast pancreas transplant and the world\u2019s first encapsulated islet cell transplant. He is a practicing surgeon and an adjunct Professor of Surgery at UCLA and a visiting Professor at the Imperial College of London.<\/p>\n

Born and raised during the apartheid era in South Africa, Dr. Soon-Shiong has lived in Los Angeles since 1980 and is a citizen of the United States.<\/p>\n

The securities sold in the PIPE have not been registered under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), or any state or other applicable jurisdiction\u2019s securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions\u2019 securities laws. Concurrently with the execution of the securities purchase agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) registering the resale of the Private Placement Shares and shares of the Company\u2019s common stock underlying the Pre-Funded Warrants and Common Warrants (together, the \u201cWarrant Shares\u201d) sold in the PIPE. Any offering of the Private Placement Shares and Warrant Shares under the resale registration statement will only be made by means of a prospectus.<\/p>\n

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Company\u2019s securities, nor shall there be any offer, solicitation, or sale of the Company\u2019s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.<\/p>\n

The private placement was conducted in accordance with applicable Nasdaq rules and was priced to satisfy the \u201cMinimum Price\u201d requirement (as defined in the Nasdaq rules).<\/p>\n

\n *\u00a0Aruquipa MPS et al, Liver metastasis and resistance to immunotherapy in microsatellite stable colorectal cancer. A literature review;\u00a0ecancer\u00a02024, 18:1771\u00a0<\/em>\n <\/p>\n

\n About PDS Biotechnology<\/strong>\n <\/p>\n

PDS Biotechnology is a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer.\u00a0The Company\u2019s\u00a0lead development program,\u00a0PDS0301 (also referred to as PDS01ADC & NHS-IL12), is an\u00a0investigational tumor-targeted interleukin-12 (IL-12)\u00a0immunocytokine\u00a0designed to deliver IL-12 preferentially to the tumor microenvironment, with the goal of enhancing anti-tumor immune activity while limiting systemic exposure. PDS0301 has been clinically evaluated across multiple solid tumors, including metastatic colorectal cancer and prostate cancer. The Company is focused on advancing PDS0301 in indications where its tumor-targeted mechanism may help address\u00a0and overcome\u00a0mechanisms of resistance\u00a0to immunotherapy. PDS Biotechnology also owns the\u00a0Versamune\u00ae\u00a0cancer vaccine\u00a0platform, including PDS0101, which has been evaluated in HPV16-positive cancers.\u00a0The Company intends to pursue strategic partnerships or other externally funded opportunities for the\u00a0Phase 3\u00a0development of PDS0101.<\/p>\n

For more information, please visit\u00a0www.pdsbiotech.com<\/u><\/a><\/p>\n

\n Forward Looking Statements<\/strong>\n <\/p>\n

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the \u201cCompany\u201d) and other matters. These statements may discuss goals, intentions and expectations as to\u00a0future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company\u2019s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201clikely,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cforecast,\u201d \u201cguidance\u201d, \u201coutlook\u201d and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company\u2019s ability to protect its intellectual property rights; the Company\u2019s anticipated capital requirements, including the Company\u2019s anticipated cash runway and the Company\u2019s current expectations regarding its plans for future equity financings; the Company\u2019s dependence on additional financing to fund its operations and complete the development and commercialization of its product\u00a0candidates, and the risks that raising such additional capital may restrict the Company\u2019s operations or require the Company to relinquish rights to the Company\u2019s technologies or product candidates; the Company\u2019s limited operating history in the Company\u2019s current line of business, which makes it difficult to evaluate the Company\u2019s prospects, the Company\u2019s business plan or the likelihood of the Company\u2019s successful implementation of such business plan; the timing for the Company or its partners to conduct clinical trials for PDS0301, PDS0101 (Versamune\u00ae<\/sup>\u00a0HPV), PDS0103 (Versamune\u00ae<\/sup>\u00a0MUC1) and other\u00a0Versamune\u00ae based product candidates; the future success of such trials; the successful implementation of the Company\u2019s research and development programs and collaborations, including any collaboration studies concerning PDS0301, PDS0101 (Versamune\u00ae<\/sup>\u00a0HPV), PDS0103 (Versamune\u00ae<\/sup>\u00a0MUC1) and other\u00a0Versamune\u00ae<\/sup>\u00a0based product candidates and the Company\u2019s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company\u2019s product candidates; the success, timing and cost of the Company\u2019s or its partners\u2019 ongoing clinical trials and anticipated clinical trials for the Company\u2019s current product candidates, including statements regarding response rates, the timing of initiation, pace of enrollment and completion of the trials (including the Company\u2019s ability to fully fund its disclosed clinical trials, which assumes no material changes to the Company\u2019s currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company\u2019s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; the Company\u2019s ability to continue as a going concern;\u00a0the risk that the Milestone Closing may not be completed in a timely manner or at all;\u00a0the failure to realize the anticipated benefits of the\u00a0PIPE\u00a0and the other\u00a0transactions described in this press release; compliance with the rules and regulations of Nasdaq;\u00a0and other factors, including legislative, regulatory, political and economic developments not within the Company\u2019s control. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the other risks, uncertainties, and other factors described under \u201cRisk Factors,\u201d \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and elsewhere in the documents we file with the U.S. Securities and Exchange Commission. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.\u202f\u202f<\/p>\n

Versamune\u00ae<\/sup> is a registered trademark of PDS Biotechnology Corporation.<\/p>\n

\n Investor Contact:<\/strong>\n <\/p>\n

Mike Moyer
LifeSci Advisors
Phone +1 (617) 308-4306
Email: mmoyer@lifesciadvisors.com<\/a><\/p>\n

\n Media Contact:<\/strong>\n <\/p>\n

Jude Gorman \/ Kiki Torpey
Collected Strategies
PDS-CS@collectedstrategies.com<\/u><\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Gross Proceeds of $11.3 Million at Initial Closing Transaction Led by Dr. Patrick Soon-Shiong, Founder of\u00a0NantWorks PRINCETON, N.J., Sept. 14, 2026 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotech” or the “Company”), a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer, today announced the initial closing (the \u201cInitial Closing\u201d) of the Company\u2019s Private Investment in Public Equity (\u201cPIPE\u201d) transaction. The round was led by Nant Capital, LLC (\u201cNant\u201d) with additional participation by current investors. The PIPE also consists of a contingent milestone closing (the \u201cMilestone Closing\u201d) as described below. At the Initial Closing, the Company sold (i) shares of the Company\u2019s common stock (the \u201cPrivate Placement Shares\u201d) or, at the election of an investor, pre-funded warrants … <\/p>\n

Continue reading “PDS Biotech\u00a0Announces Initial Closing of\u00a0up to $22.3 Million PIPE Financing\u00a0and the Appointment of Dr. Patrick Soon-Shiong to Its Board of Directors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1003327","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPDS Biotech\u00a0Announces Initial Closing of\u00a0up to $22.3 Million PIPE Financing\u00a0and the Appointment of Dr. Patrick Soon-Shiong to Its Board of Directors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-announces-initial-closing-of-up-to-22-3-million-pipe-financing-and-the-appointment-of-dr-patrick-soon-shiong-to-its-board-of-directors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PDS Biotech\u00a0Announces Initial Closing of\u00a0up to $22.3 Million PIPE Financing\u00a0and the Appointment of Dr. Patrick Soon-Shiong to Its Board of Directors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Gross Proceeds of $11.3 Million at Initial Closing Transaction Led by Dr. Patrick Soon-Shiong, Founder of\u00a0NantWorks PRINCETON, N.J., Sept. 14, 2026 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotech” or the “Company”), a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer, today announced the initial closing (the \u201cInitial Closing\u201d) of the Company\u2019s Private Investment in Public Equity (\u201cPIPE\u201d) transaction. The round was led by Nant Capital, LLC (\u201cNant\u201d) with additional participation by current investors. The PIPE also consists of a contingent milestone closing (the \u201cMilestone Closing\u201d) as described below. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-announces-initial-closing-of-up-to-22-3-million-pipe-financing-and-the-appointment-of-dr-patrick-soon-shiong-to-its-board-of-directors\/","og_locale":"en_US","og_type":"article","og_title":"PDS Biotech\u00a0Announces Initial Closing of\u00a0up to $22.3 Million PIPE Financing\u00a0and the Appointment of Dr. Patrick Soon-Shiong to Its Board of Directors - Market Newsdesk","og_description":"Gross Proceeds of $11.3 Million at Initial Closing Transaction Led by Dr. Patrick Soon-Shiong, Founder of\u00a0NantWorks PRINCETON, N.J., Sept. 14, 2026 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotech” or the “Company”), a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer, today announced the initial closing (the \u201cInitial Closing\u201d) of the Company\u2019s Private Investment in Public Equity (\u201cPIPE\u201d) transaction. The round was led by Nant Capital, LLC (\u201cNant\u201d) with additional participation by current investors. The PIPE also consists of a contingent milestone closing (the \u201cMilestone Closing\u201d) as described below. 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