Which is when I thought “Wow, but look at that pipeline – not just Rett syndrome but also Fragile-X and TBI and Mild and Moderate Alzheimer’s and Stroke and Major Depressive Disorder and ALS and MASH and (of course) Diabetes, Obesity and Weight Loss. It must be a very wealthy individual running this company!” Who is it?
The Chairman, CEO and CSO of the company is Dr Lloyd L. Tran. He must be a very busy individual between filling so many roles and running so many trials. I thought I should check out his CV.
Lloyd is a scientist with 25-year experience in drug development. He is an inventor with a number of patents in drug therapeutics in the treatment of neurological diseases. Lloyd serves as the chairman and Chief Scientific Officer of Biomed Industries, Inc. Lloyd was the discoverer of NA-831, which has completed the Phase 2 for the treatment of Alzheimer’s Disease. In his early career, he was employed as a research scientist at G.D. Searle, (a subsidiary of Pfizer), and was the director of R&D at Biomed Pharmaceuticals. Lloyd graduated with a BSc (Honours) and completed a PhD in medicinal chemistry at University of Otago and Wellington University of New Zealand.
Something didn’t seem quite right about this CV. Where is Dr. Tran based, I wondered.
Depending on where I looked, Biomed’s headquarters are in a suite in Marina del Rey, California, on the 2nd floor of a building in San Jose or in Sydney, Australia. Mmmm…a multinational corporation, obviously.
Keen to find out more about Dr. Tran, I looked a bit further.
I found that the US SEC 1991 was on his back in 1991. It seemed Dr. Tran had made fraudulent claims and sold US$2m in unregistered common stock to more than 100 investors without telling then of the precarious financial state of the company they were investing in (it was swiftly bankrupt).
Then, in 2002, Dr. Tran failed to appear in an Auckland court
A man alleged to have stolen intellectual property from brain research company Neuronz failed to appear for cross-examination in the High Court at Auckland yesterday.
Neuronz, which is part-owned by Auckland University's commercial arm Uniservices, is suing Lloyd Tran to establish its ownership of the knowledge used in two applications he made for patents covering the use of a drug.
Justice Peter Salmon suppressed the name of the drug, which was referred to as "Drug Y", and details of the two patent applications.
But Neuronz's counsel, Gerard Curry, said the drug "may lead to a treatment for strokes, head injuries and diseases such as Parkinson's disease, Alzheimer's disease and multiple sclerosis. It is of extremely high potential value."
Neuronz, as some will know, was the predecessor company to Neuren Pharmaceuticals…
I think I’ll leave it there – I have a cyclone to think about. Suffice to say, I have some serious reservations about the Biomed NA-921 Rett syndrome drug program and who's running it.
As that Kiwi classic goes
Wanna know the rest? Hey, buy the rights
How bizarre
How bizarre, how bizarre…
NEU Price at posting:
$12.28 Sentiment: Hold Disclosure: Held
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