ImmunityBio
ImmunityBio is a publicly traded clinical-stage biotechnology company developing multi-modal immunotherapies, with FDA-approved ANKTIVA (IL-15 receptor agonist) for BCG-unresponsive bladder cancer and a pipeline spanning NSCLC, pancreatic cancer, and infectious diseases, sold to healthcare providers across approximately 34 countries.
- Company typePublic
- Founded2015
- HeadquartersCulver City, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What ImmunityBio does
ImmunityBio is a publicly traded late-stage clinical-stage biotechnology company (NASDAQ: IBRX) developing multi-modal immunotherapies that engage both innate and adaptive immune responses. The company is controlled by founder and Executive Chairman Dr. Patrick Soon-Shiong through the NantWorks conglomerate ecosystem. Its core technology centers on ANKTIVA (nogapendekin alfa inbakicept), the first and only FDA-approved IL-15 receptor agonist (approved April 2024), which stimulates NK cells, CD4+ and CD8+ T cells, and memory T cells without expanding immunosuppressive T-reg cells. ANKTIVA is approved for use with BCG in BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with CIS, with a supplemental BLA pending for papillary disease (PDUFA January 6, 2027). The proprietary platform also includes the NK-92 cell line (originated in 1992) and engineered variants (aNK, haNK, t-haNK, PD-L1 t-haNK, ceNK, M-CENK), adenovirus-vectored vaccines (hAd5, Tri-Ad5, IBRX-042), and recombinant BCG (rBCG).
ImmunityBio's pipeline spans BCG-unresponsive bladder cancer, NSCLC (Phase 3 ResQ201A, QUILT-2.023, QUILT-3.055), pancreatic cancer (RMAT-designated ANKTIVA + PD-L1 t-haNK for lymphopenia reversal), glioblastoma, HIV, HPV-associated cancers, Lynch Syndrome, NHL, and ovarian cancer, with over 1,800 participants in clinical trials and more than 3 trillion NK cells manufactured. The company generated FY2025 net product revenue of $113 million (700% YoY growth) and Q1 2026 revenue of $44.2 million (168% YoY), with $380.9 million in cash and marketable securities as of Q1 2026 quarter end. ANKTIVA is commercially available in approximately 34 countries across five major regulatory jurisdictions, with U.S. direct field sales to urologists and oncologists supplemented by regional distribution partnerships (Biopharma and Cigalah Healthcare in MENA, separate EU partnership, Irish subsidiary, UK distribution, and Asia-Pacific expansion).
The business model is a hybrid of direct-to-provider product sales and partnership-based international distribution, with financing from non-dilutive royalty structures (Oberland Capital, $375M total committed) alongside equity and debt from founder-affiliated Nant entities. The company faces a March 2026 FDA Warning Letter regarding misleading promotional claims and carries approximately $1.52 billion in debt against $205.2 million cash (pre-April 2026 financing), creating material balance-sheet risk despite the hyper-growth revenue trajectory.
ImmunityBio firmographics
Firmographics- Name
- ImmunityBio
- Legal name
- ImmunityBio, Inc.
- Website
- https://immunitybio.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- ImmunityBio is a publicly traded clinical-stage biotechnology company developing multi-modal immunotherapies, with FDA-approved ANKTIVA (IL-15 receptor agonist) for BCG-unresponsive bladder cancer and a pipeline spanning NSCLC, pancreatic cancer, and infectious diseases, sold to healthcare providers across approximately 34 countries.
- Ownership category
- akta.pro rank
ImmunityBio industry classification
Industry- Product category
- Cancer Immunotherapy Biologics
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)
- akta.pro primary industry
- NK Cell Therapies (HLAAABAD)
- akta.pro secondary industries
- Cytokines, Interferons & Immunomodulatory Proteins (HLAAAAAC), Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA) (HLAAAEAD), Therapeutic Vaccines (e.g., Cancer/Chronic Infection) (HLAIAEAG)
Keywords
Where ImmunityBio is headquartered
LocationHeadquarters
- HQ city
- Culver City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
ImmunityBio business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain
Revenue model
- ANKTIVA Product Sales: Net product revenue from commercial sales of FDA-approved ANKTIVA (nogapendekin alfa inbakicept-pmln) for BCG-unresponsive NMIBC. Q1 2026 net product revenue: $44.2 million (168% YoY growth). Full-year 2025 net product revenue: $113 million (700% increase over 2024's $14.7 million).
- Royalty and Milestone Payments: Oberland Capital financing structured as royalty financing with contingent funding based on regulatory milestones, in addition to equity components.
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
ImmunityBio product offering
Product offeringCore offering
ImmunityBio develops and commercializes multi-modal immunotherapies led by ANKTIVA (nogapendekin alfa inbakicept), the first FDA-approved IL-15 receptor agonist, approved April 2024 for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with CIS. The company also develops engineered off-the-shelf NK cell therapies (PD-L1 t-haNK, CD19 t-haNK, haNK, ceNK, M-CENK) derived from its proprietary NK-92 cell line, adenovirus-vectored therapeutic vaccines (IBRX-042, Tri-Ad5), and recombinant BCG to address oncology and infectious disease indications.
Product overview
ImmunityBio is a clinical-stage immunotherapy company developing a multi-modal platform targeting both innate and adaptive immune responses for cancer and infectious diseases. The core product is ANKTIVA (nogapendekin alfa inbakicept, also known as N-803), an IL-15 receptor agonist approved for BCG-unresponsive non-muscle invasive bladder cancer. The company's cell therapy portfolio includes off-the-shelf NK cell products (PD-L1 t-haNK, CD19 t-haNK, haNK, ceNK, M-CENK) derived from the proprietary NK-92 cell line, engineered for enhanced tumor targeting and immune activation. Vaccine candidates include IBRX-042 for HPV-associated cancers and Tri-Ad5 for Lynch syndrome. The company is also developing rBCG (recombinant Bacillus Calmette-Guérin) to address supply shortages. The platform aims to create durable immune responses through NK cell activation, T cell proliferation, and immunological memory.
Differentiator
Problem solved
Functional benefit
Brands
- ANKTIVA: FDA-approved IL-15 receptor agonist immunotherapy (nogapendekin alfa inbakicept-pmln) for BCG-unresponsive non-muscle invasive bladder cancer. Also known as N-803 or NAI.
- NANT Cancer Vaccine
- BioShield
- NK-92
Products and services
- ANKTIVA (nogapendekin alfa inbakicept) FDA-approved IL-15 receptor superagonist complex (also known as N-803) that stimulates proliferation and activation of NK cells, CD4+ and CD8+ T cells, and memory T cells without expanding immunosuppressive T-reg cells. Indicated for adult patients with BCG-unresponsive NMIBC with CIS. Administered intravesically with BCG by urologists and oncologists.
- PD-L1 t-haNK Off-the-shelf, genetically engineered cryopreserved NK cell therapy that targets PD-L1 via a chimeric antigen receptor (CAR) and incorporates a high-affinity CD16 receptor for enhanced antibody-dependent cellular cytotoxicity (ADCC). GMP-grade product candidate.
- CD19 t-haNK CAR-directed NK cell therapy targeting CD19 for treatment of B-cell non-Hodgkin lymphoma, engineered to kill through innate, antibody-mediated, and CAR-directed mechanisms.
- haNK (High-Affinity NK) Natural killer cells engineered with high-binding affinity CD16 receptor for enhanced antibody-dependent cellular cytotoxicity when combined with therapeutic antibodies.
- ceNK (Cytokine-Enriched NK) Cytokine-induced memory-like NK cells with enhanced immune responses and unique cell-surface marker profile for potential cancer and infectious disease applications.
- M-CENK (Memory Cytokine-Enhanced NK) Memory cytokine-enhanced natural killer cells being evaluated in combination with N-803 and gemcitabine for recurrent platinum-resistant high-grade ovarian cancer.
- IBRX-042 (HPV Vaccine) Therapeutic vaccine using human adenovirus serotype 5 (hAd5) delivering HPV E6/E7 proteins for treatment of HPV-associated tumors including cervical, oropharyngeal, and other cancers; delivered subcutaneously.
- Tri-Ad5 Vaccine Cancer vaccine combining hAd5 CEA/MUC1/brachyury antigens with N-803 for prevention and treatment of cancers in Lynch syndrome patients.
- rBCG (Recombinant Bacillus Calmette-Guérin) Recombinant form of BCG developed to address the ongoing BCG shortage in the United States, designed for improved safety and immune activation. Available through Expanded Access Program and clinical trials.
- NK-92 Cell Line Licensing The original NK-92 natural killer cell line established in continuous culture in 1992, available for licensing through Brink Biologics for non-clinical research and clinical applications.
Quantifiable outcome
- 49.6% complete response rate with ANKTIVA + BCG vs. 45.9% for TAR-200 in BCG-unresponsive NMIBC CIS
- +7 more outcomes
Companies that use ImmunityBio
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
ImmunityBio technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
ImmunityBio partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Fight Bladder CancerminorUK-based patient advocacy organization partnered with ImmunityBio for ISPOR 2026 survey study on treatment preferences among 86 UK adults with BCG-unresponsive high-risk NMIBC. Study found patients prioritize bladder preservation and clinical effectiveness over radical cystectomy.
- Japan BCG LaboratorycoreExclusive U.S. Development and Supply Agreement for Tokyo-172 BCG strain. Positions ImmunityBio as the sole U.S. BLA applicant. Supported by positive Phase III data (SWOG S1602) demonstrating non-inferiority vs. TICE BCG (64% vs. 58% 5-year recurrence-free survival). Addresses chronic US BCG shortage.
- Biopharma and Cigalah HealthcarecoreMENA (Middle East and North Africa) distribution partners for ANKTIVA. Saudi Arabia commercial launch achieved within two months of partnership announcement. Initial patients identified and receiving treatment. Expansion planned across the broader MENA region.
- Serum Institute of IndiacorePartnership for recombinant BCG (rBCG) supply to address the over-decade-long BCG shortage in the United States. rBCG developed as an innovative version of traditional BCG with potential improved safety and immune activation. Phase III SWOG S1602 trial data supports regulatory pathway.
- Various academic and clinical institutions (Avera, Cleveland Clinic, Hoag, Miami Cancer Institute, MD Anderson, Sylvester Cancer Center, UCSF, Washington University)minorClinical trial investigator partnerships across multiple cancer centers including Avera, Cleveland Clinic, Hoag Memorial, Miami Cancer Institute, MD Anderson, Sylvester Cancer Center, UCSF, and Washington University in St. Louis for conducting QUILT and other clinical trials.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
ImmunityBio competitors and assessment
Company assessmentDirect peers
- CG Oncology: CG Oncology is developing cretostimogene grenadenorepvec, a directly competing intravesical gene therapy for BCG-unresponsive NMIBC, sharing the same target indication, clinical setting, and prescribing specialist base as ANKTIVA.
- Ferring Pharmaceuticals: Ferring commercializes nadofaragene/FerGene for BCG-unresponsive NMIBC, serving the same urologist customer base as ANKTIVA. Nadofaragene serves as the primary benchmark referenced in ImmunityBio's clinical data comparisons.
- Johnson & Johnson (Janssen): J&J's TAR-200 intravesical releasing erdafitinib is the closest head-to-head competitor for BCG-unresponsive NMIBC, with comparable CR rates that ImmunityBio benchmarks against in its commercial and ASCO/AUA datasets.
- Nkarta Therapeutics: Nkarta is a clinical-stage NK cell therapy company developing allogeneic CAR-NK candidates, overlapping directly with ImmunityBio's NK-92-derived haNK/t-haNK platform technology and oncology pipeline.
- Fate Therapeutics: Fate develops iPSC-derived off-the-shelf NK cell therapies, directly comparable to ImmunityBio's NK-92-derived PD-L1 t-haNK, CD19 t-haNK, and ceNK platforms in terms of mechanism, scalability, and oncology indications pursued.
Emerging players
- Allogene Therapeutics: Allogene is pioneering allogeneic, off-the-shelf CAR-T cell therapies with comparable manufacturing and cryopreserved delivery model to ImmunityBio's engineered NK cell products, targeting overlapping hematologic and solid tumor indications.
- Adaptimmune Therapeutics: Adaptimmune develops engineered T-cell therapies (including SPEAR T-cells) for solid tumors, operating in adjacent adoptive cell therapy space with comparable cancer immunotherapy positioning.
- Nektar Therapeutics: Nektar is pursuing IL-15 and IL-2 pathway agonists for oncology and immunology, providing a comparable cytokine-engineering approach to ANKTIVA's IL-15 receptor superagonist mechanism.
Broad incumbents
- Merck & Co. Merck's Keytruda is approved in BCG-unresponsive NMIBC (pembrolizumab) and is being studied in combination with ANKTIVA in NSCLC. As the dominant checkpoint inhibitor franchise, Merck shapes combination strategy and competitive context for ANKTIVA across indications.
- Bristol-Myers Squibb: BMS operates an extensive immuno-oncology portfolio (Opdivo, Yervoy) and cell therapy franchise (Breyanzi, Abecma) that competes with and complements ImmunityBio's NK/T-cell mechanisms across NSCLC, lymphopenia reversal, and broader solid tumor indications.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
ImmunityBio social profiles
Digital presenceImmunityBio financial estimates
Financial estimateRevenue estimate
Valuation estimate
ImmunityBio leadership team
Management profileNumber of profiles
Profiles10 records
ImmunityBio subsidiaries and ownership
Company hierarchySubsidiaries1 record
ImmunityBio funding detail
Funding detailFunding overview
Funding rounds16 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ImmunityBio M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ImmunityBio
What does ImmunityBio do?
ImmunityBio develops and commercializes multi-modal immunotherapies led by ANKTIVA (nogapendekin alfa inbakicept), the first FDA-approved IL-15 receptor agonist, approved April 2024 for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with CIS. The company also develops engineered off-the-shelf NK cell therapies (PD-L1 t-haNK, CD19 t-haNK, haNK, ceNK, M-CENK) derived from its proprietary NK-92 cell line, adenovirus-vectored therapeutic vaccines (IBRX-042, Tri-Ad5), and recombinant BCG to address oncology and infectious disease indications.
Is ImmunityBio a public or private company?
ImmunityBio is a public company. It is classified as public and is currently operating.
When was ImmunityBio founded?
ImmunityBio was founded in 2015. It employs 501 to 1,000 people.
Where is ImmunityBio based?
ImmunityBio is headquartered in Culver City, United States, in the North America region.
How does ImmunityBio make money?
Two revenue lines are on record. ANKTIVA Product Sales are the primary driver. The others are royalty and Milestone Payments.
Who are ImmunityBio's main competitors?
Direct peers on record are CG Oncology, Ferring Pharmaceuticals, Johnson & Johnson (Janssen), Nkarta Therapeutics and Fate Therapeutics. Emerging players are Allogene Therapeutics, Adaptimmune Therapeutics and Nektar Therapeutics. Broad incumbents are Merck & Co. and Bristol-Myers Squibb.
Does ImmunityBio have an API?
No public API is recorded for ImmunityBio.
What industry is ImmunityBio in?
ImmunityBio's product category is Cancer Immunotherapy Biologics. Its primary akta.pro industry code is HLAAABAD, NK Cell Therapies, with a secondary code of HLAAAAAC, Cytokines, Interferons & Immunomodulatory Proteins. Its NAICS code is 325414 and its SIC code is 2836.