Buried in Im­muno­core's IPO fil­ings? A kick­back scheme from a now for­mer em­ploy­ee

Im­muno­core spent much of 2019 deal­ing with the fall­out of the Neil Wood­ford scan­dal, as the for­mer star in­vestor’s fall crashed the biotech’s val­u­a­tion out of uni­corn range. Now it turns out that the com­pa­ny spent 2020 deal­ing with an­oth­er in­ter­nal scan­dal.

The long­time UK biotech dar­ling dis­closed in their IPO fil­ing last week that they had fall­en vic­tim to an al­leged kick­back scheme in­volv­ing one of their em­ploy­ees. Af­ter a whistle­blow­er came for­ward, they said in their F-1, they spent the sum­mer and spring in­ves­ti­gat­ing, find­ing fraud on the part of an em­ploy­ee and two out­side ven­dors.

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