GenScript Strongly Denies Allegations Made in Obscure Research Report

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Sep 28, 2018, 08:38 ET

PISCATAWAY, N.J., Sept. 28, 2018 /PRNewswire/ -- GenScript®, the world leader in the biotechnology reagent service industry, strongly denies allegations made in a research report by short seller Flaming Research.

"The allegations made against our subsidiary Nanjing Legend Biotechnology Co. are inaccurate and misleading, as well as groundless and irresponsible," said Eric Wang, GenScript's vice president of marketing. "We are very proud of the significant breakthroughs in CAR-T research made by Legend's scientific team, led by Dr. Frank Fan, and have and will continue to conduct our research and business to the highest standards of integrity with patient safety our paramount priority."

Johnson &Johnson, Nanjing Legend's partner, also confirmed to the Wall Street Journal that the company "conducted careful and detailed reviews" of Legend's data and is "optimistic about the potential of this investigative therapy."

GenScript has no information on the identity of Flaming Research and was never contacted by the entity. At this time, GenScript is consulting with its legal counsel and considering legal actions against Flaming.

A full response to the allegations may be found here.

About GenScript

GenScript is the world's leading contract research organization, providing gene, peptide, protein, CRISPR, and antibody reagents to scientists in over 100 countries worldwide. Since its foundation in 2002, GenScript has grown exponentially through partnerships with scientists conducting fundamental life science and translational biomedical research, as well as early stage pharmaceutical development. With a mission to make people and nature healthier through biotechnology, the company has developed the best-in-class capacity and capability for producing biological reagents in order to Make Research Easy for all scientists. For more information, visit www.genscript.com.

SOURCE Genscript Biotech Corporation