An MSK exec gives back ... a ton of biotech bucks
Memorial Sloan-Kettering, facing criticism over a series of stories from ProPublic and The New York Times about its ties to industry, is moving to distance itself from conflicts of interest, and that must be particularly painful for one of its VPs: Dr. Gregory Raskin. who oversees the hospital’s relationships with for-profit companies. Raskin has to return to the hospital $1.4 million — his stake in Y-mAbs Therapeutics, which went public earlier this month.
Because he represented the hospital on the biotech company's board, Raskin had received stock options that became lucrative after it went public.
But under a new policy, individuals employed at MSK won’t profit personally from these sorts of connections — but rather, the institution and its research will get the money. The cancer center also sent out a memo Friday saying it would bar contact with some for-profit companies.
Because he represented the hospital on the biotech company's board, Raskin had received stock options that became lucrative after it went public.
But under a new policy, individuals employed at MSK won’t profit personally from these sorts of connections — but rather, the institution and its research will get the money. The cancer center also sent out a memo Friday saying it would bar contact with some for-profit companies.
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