KaloBios Files for Bankruptcy After Former CEO Martin Shkreli's Arrest
KaloBios Pharmaceuticals had previously taken strategic investment from Shkreli.
The bad news keeps on coming for business associates of Martin Shrekli, the "bad boy" of pharmaceuticals who made a name for himself earlier this year when he hiked up the price of an AIDS drug from $13.50 to $750. Less than two weeks after it fired Shkreli as CEO, South San Francisco-based cancer drug research company KaloBios Pharmaceuticals Inc. filed for bankruptcy.