Patrick Soon-Shiong Launches Technology Incubator

Billionaire entrepreneur Patrick Soon-Shiong, the founder of Abraxis BioScience, announced today that he has launched a new company focused on "bringing the digital revolution" to healthcare, education, science, and the justice system. Soon-Shiong said the new firm, NantWorks, LLC, will combine several technology businesses into one company, with technology across the areas of semiconductor chips, switches and encryption technologies, augmented reality, novel object and voice recognition technologies, broadband telecommunications services and ultra-low power remote monitoring devices. The new firm, according to Soon-Shiong, will help create a "Silicon Beach" in the Los Angeles area. Soon-Shiong has been investing in a hodgepodge of technology related firms, including therapeutic peptide firm ConjuChem, healthcare systems firm Net.Orange, massively multiplayer online game firm Fourth Wall Studios, smart pill firm Vitality Corp., among others. It's unclear if those firms have been wrapped into NantWorks.