Months after shocking house arrest, Legend co-founder Frank Zhang is out on bail — though the CAR-T player has moved on
It’s still unclear why Frank Zhang — the founder and former CEO of both GenScript and its CAR-T subsidiary, Legend Biotech — was first placed under residential surveillance and then arrested. But he’s finally released on bail.
GenScript first disclosed in September that Zhang had been detained as part of a customs investigation on GenScript, the contract research organization he had run for the better part of the last two decades. It eventually emerged that the suspected offense had to do with “smuggling goods prohibited by the import and export regulations under the laws of the PRC,” and two other employees who had handled import and export activities were also arrested.
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