Biopharmaceutical company raided in Sorrento Valley

SAN DIEGO (CNS) – Federal agents raided a Sorrento Valley biopharmaceutical company today as part of an investigation into possible white-collar crimes allegedly involving the drug maker.

Personnel with the FBI and U.S. Department of Health and Human Services' Office of Inspector General served a search warrant at the Sorrento Valley Road offices of NexBio about 8 a.m., FBI spokesman Darrell Foxworth said.

Foxworth said he could release no details about the case because it had been ordered sealed. No arrests had been made by early afternoon, and none were expected at this stage of the investigation, he said.

Officials of the 8-year-old company and their employees were fully cooperative with agents, according to Foxworth.

“I'd just remind the public that … the serving of a search warrant isn't absolute proof of a person's or a company's guilt,” the spokesman said.

NexBio's lead product is a development-stage influenza medicine called Fludase, which currently is undergoing clinical trials, according to the firm's website.

The company's stated mission is to create pharmaceuticals to treat “current and emerging life-threatening human diseases.”

Categories: KUSI