Out of jail, Shkreli plans “Web3 drug discovery” platform backed by crypto

Martin Shkreli being photographed for his role as CIO of MSMB Capital Management.

Martin Shkreli being photographed for his position as CIO of MSMB Capital Administration. (credit score: Getty Photographs)

Martin Shkreli—the infamous ex-pharmaceutical govt contemporary from jail after his 2017 fraud conviction—introduced his newest, eyebrow-raising enterprise Monday: making a blockchain-based “Web3 drug discovery platform” that traffics in his personal cryptocurrency, MSI, aka Martin Shkreli Inu.

The platform, nonetheless within the early growth part, is known as Druglike, based on a press launch that circulated Monday. The platform’s targets are ostensibly lofty, however the particulars are extraordinarily sketchy, and Shkreli’s intentions have already drawn skepticism. It is also unclear if the enterprise will run Shkreli afoul of his lifetime ban from the pharmaceutical trade, which stemmed from the abrupt and callous 4,000 p.c worth hike of a life-saving drug that made him notorious.

Shkreli, who is known as as a co-founder of Druglike, says the platform goals to make early-stage drug discovery extra inexpensive and accessible. “Druglike will take away boundaries to early-stage drug discovery, enhance innovation and permit a broader group of contributors to share the rewards,” Shkreli stated within the press launch. “Underserved and underfunded communities, reminiscent of these targeted on uncommon illnesses or in creating markets, may even profit from entry to those instruments.”

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