10:13 AM EDT, 05/27/2025 (MT Newswires) -- ImmunityBio ( IBRX ) said Tuesday it signed a memorandum of understanding with Saudi Arabia's investment ministry and two research hospitals to bring its BioShield cancer therapy to Saudi Arabia and the rest of the Middle East.

The agreement includes plans to set up subsidiaries in the region, conduct clinical trials, and transfer scientific and technical knowledge as well as integrate BioShield into clinical settings and create a regional center for research and training in immune-restorative therapies, the company said.

ImmunityBio ( IBRX ) added that it will also work with Saudi health regulators and train medical staff in cell therapy techniques.

The company signed the agreement with the Ministry of Investment of Saudi Arabia, King Faisal Specialist Hospital and Research Center, and King Abdullah International Medical Research Center, ImmunityBio ( IBRX ) said.

Shares of the company were up more than 5% in recent trading.

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