Mike Levine of Dealbreaker reports, biz-tech-bitchily:
It seems that California biopharma company Immunosyn has been a little more optimistic about the prospects for its blockbuster drug than would be warranted by the facts. Specifically facts such as (1) the FDA has blocked clinical trials in the U.S., (2) there are no clinical trials likely elsewhere, and (3) it’s made out of goat blood.
The SEC alleges that Immunosyn Corporation [whose promotional image you see here, right] misleadingly stated in various public filings from 2006 to 2010 that its controlling shareholder – Argyll Biotechnologies LLC – either planned to commence or had commenced the U.S. regulatory approval process for human clinical trials for SF-1019, a drug derived from goat blood that was intended to treat a variety of ailments.
(Thanks to investigator Ron Josephson for bringing this to our attention.)
BONUS: A Reuters report on the same subject, with the headline “Company misled investors about goat-blood drug“.