UC Davis Suspends KaloBios Drug Trial After CEO Shkreli's Arrest
- Moffitt Cancer Center also stops work on trial `indefinitely'
- Shkreli says charges are `baseless' and he'll be vindicated
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The University of California at Davis and Moffitt Cancer Center in Florida have suspended a planned drug trial sponsored by KaloBios Pharmaceuticals Inc. following the arrest of Chief Executive Officer Martin Shkreli on securities fraud charges.
Moffitt has suspended the clinical trial, which was to have been funded by KaloBios, indefinitely “pending the outcome of the investigation of KaloBios’ CEO,” the center’s spokeswoman Patricia Kim said Saturday in an e-mail. UC Davis said its suspension will remain in effect “pending further analysis,” according to an e-mail from spokeswoman Dorsey Griffith. The drug being tested, known as KB003, was developed to treat a form of leukemia.