The Justice Department has accused a neuroscientist at the City University of New York and a paid consultant for Cassava Sciences, Hoau-Yan Wang, of defrauding the National Institutes of Health in grant applications supporting the company’s Alzheimer’s drug. The indictment claims that Wang made false and misleading statements to the NIH in order to obtain funding and enrich himself through continued compensation.
According to court documents filed with the U.S. District Court for the District of Maryland, Wang secured $16 million in NIH funding by submitting fraudulent grant applications on behalf of himself and Cassava. This exclusive story from STAT+ provides insights into the ongoing controversy surrounding Cassava Sciences and its collaborator, Hoau-Yan Wang. By subscribing to STAT+, readers can access daily coverage and analysis of the biotech sector, including updates on this developing story. Upgrade to a STAT+ subscription to unlock this article and access more exclusive content.
