ImmunityBio’s Anktiva Receives FDA Approval, Set to Rival Merck in Bladder Cancer Treatment

1. ImmunityBio, a company led by Patrick Soon-Shiong, has received FDA approval for its drug Anktiva, which is set to challenge Merck in the bladder cancer treatment market.

2. Anktiva is an immunotherapy drug designed to help the body's immune system fight cancer cells. It works by blocking certain proteins that can prevent the immune system from attacking cancer cells.

3. Bladder cancer is the fourth most common cancer in men and the ninth most common cancer in women in the United States. It is estimated that over 80,000 new cases of bladder cancer will be diagnosed in the U.S. in 2021.

4. Merck is currently a major player in the bladder cancer treatment market, with its drug Keytruda being a popular choice for patients. However, the approval of Anktiva could provide a new option for patients and increase competition in the market.

5. Patrick Soon-Shiong is a South African-American surgeon, professor, and researcher who has made significant contributions to the field of medicine. He is the founder of ImmunityBio and has been a driving force behind the development of Anktiva.

6. The FDA approval of Anktiva is a significant milestone for ImmunityBio and could potentially lead to further advancements in cancer treatment.