Merger Complete: ImmunityBio and NantKwest Unite to Advance Next-Generation Cell Therapy Platforms

The previously announced stock-for-stock merger between ImmunityBio and NantKwest has officially closed following shareholder approval. Operating under the ImmunityBio banner, the combined entity commenced trading on NASDAQ under ticker symbol IBRX on March 10, 2021. In the transaction, ImmunityBio’s shareholders received 0.8190 shares of NantKwest common stock for each ImmunityBio share held at closing.

Strategic Integration Creates Immunotherapy Powerhouse

The combination brings together complementary capabilities in cell therapy and immunotherapy development. NantKwest’s expertise in off-the-shelf natural killer cell manufacturing joins ImmunityBio’s proprietary platform spanning antibody-cytokine fusion proteins, synthetic immunomodulators, adenovirus-based vaccine vectors, and advanced NK cell therapies.

Patrick Soon-Shiong, M.D., Executive Chairman of ImmunityBio’s Board, emphasized the merger’s significance: “This represents years of innovation converging to activate the body’s natural defenses against cancer and infectious diseases through what we term ‘immunogenic cell death.’ By combining cutting-edge NK and T cell therapies with novel immunotherapy molecules and viral vectors, we can fundamentally reshape treatment paradigms.”

Robust Clinical Pipeline Across Multiple Indications

The merger positions ImmunityBio as a late-stage clinical immunotherapy company with an expansive development portfolio. The company is advancing over 40 active clinical trials spanning 19 disease indications in solid tumors, hematologic malignancies, and infectious disease applications. Within this pipeline, 17 first-in-human antibody-cytokine fusion candidates and immunomodulatory agents are enrolled in 25 Phase II and Phase III studies.

Anktiva™, the company’s lead interleukin-15 superagonist complex candidate, has earned Breakthrough Therapy and Fast Track designations from the FDA for BCG-unresponsive non-muscle invasive bladder cancer. This program exemplifies the platform’s potential to address high-unmet-need patient populations.

Manufacturing Scale and Operational Readiness

The combined organization inherits manufacturing infrastructure specifically optimized for cryopreserved, clinical-grade natural killer cell production. This positions NantKwest’s legacy capabilities alongside newly consolidated regulatory, clinical operations, and R&D teams—enabling rapid scale-up of manufacturing as candidates progress through development phases.

Rich Adcock, Chief Executive Officer, outlined the path forward: “By integrating our platforms and talent across both organizations, we establish the operational infrastructure to accelerate clinical development and regulatory advancement. Our combined resources allow us to execute multiple concurrent trials while maintaining development timelines across our diversified indication portfolio.”

Addressing Current Health Landscape

Among the company’s priority programs is a proprietary COVID-19 vaccine candidate leveraging the adenovirus-vector platform. Management believes this approach may generate sustained immunity against SARS-CoV-2 virus variants—a capability the company views as strategically important for global health preparedness.

Transaction Administration

Shareholders of the acquired ImmunityBio entity may contact American Stock Transfer & Trust Company, LLC—designated as the official exchange agent—at (877) 248-6417 or (718) 921-8317 for inquiries regarding consideration received in the transaction structure.

The combination consolidates leadership positions in dual immune pathway activation, positioning the merged ImmunityBio to advance treatment innovations across oncology, infectious disease, and emerging therapeutic categories. Execution of this development strategy depends on successful clinical progression, regulatory outcomes, personnel retention, and broader macroeconomic conditions affecting biotech development timelines and financing availability.