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LA's richest man ups the ante for cancer research

05 Oct 12

According to various reports including Reuters, Patrick Soon-Shiong, LA's richest man, will unveil a joint venture with his company NantHealth together with Verizon, Intel, Blue Shield and others to create a US wide system for doctors to share DNA and data on cancer patients. The system will aim to do genetic analysis of a patient's tumour in less than a minute. Something that currently takes 8-10 weeks.

"This is something the federal government should have done, but we waited and waited for them," Soon-Shiong told Reuters in an interview....It's unconscionable that cancer patients get the wrong diagnosis 30 percent of the time and that it takes so long to treat them with appropriate drugs for their cancer."

Soon-Shiong emigrated to the United States more than three decades ago and created drugs to fight diabetes and breast cancer and then sold the companies that produced them for a combined $8.6 billion.

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