Culver City-based immunotherapy company ImmunityBio Inc. has received as much as $320 million in financing from New York private equity firm Oberland Capital Management.

The company received $210 million of that financing on Dec. 29, bringing the total financing received for all of last year to $850 million. About $530 million of that total came from company founder and L.A.’s wealthiest billionaire, Patrick Soon-Shiong.

Another $100 million of the financing from Oberland Capital is contingent upon the Food and Drug Administration approving ImmunityBio’s lead drug candidate Anktiva to treat a form of bladder cancer. After an initial rejection, ImmunityBio resubmitted its drug-application data to the agency last summer; the agency is currently reviewing the drug and has given a deadline for its decision of April 23.

ImmunityBio said in its announcement that it intends to use the additional capital to accelerate its commercialization efforts in anticipation of the potential regulatory approval for Anktiva, as well as to expand its pipeline within the broader urological cancer space. The proceeds will also be used to fund ongoing business operations and clinical trials expanding the drug’s applications to treat multiple solid tumors.

“This transaction raises significant capital for the company to support important growth plans, yet with limited equity dilution and with a cap on total payments tied to the initial investment,” Richard Adcock, ImmunityBio’s chief executive, said in the announcement.

The bulk of Oberland Capital’s investment – $300 million – is in the form of a revenue interest purchase agreement under which the investment is paid back with a predetermined percentage of future revenues, much like royalty payments. Overland Capital also purchased on Dec. 29 more than 2.4 million shares of ImmunityBio stock at a market price of $10 million. The private equity firm also agreed to purchase an additional $10 million worth of shares at an unspecified future date.