Ex-Biopure CEO Settles Blood Substitute Case

Law360, New York (February 21, 2007, 12:00 AM EST) -- Biopure Corp.’s former chief executive has resolved allegations that the pharmaceutical company continued to paint a rosy picture of its blood substitute awaiting approval, despite receiving negative feedback from U.S. federal regulators over the product’s safety.

Former CEO Thomas Moore agreed to shell out a $120,000 civil fine to settle charges that the company misled the public about its efforts to win Food and Drug Administration approval for its main product, Hemopure, according to the U.S. Securities and Exchange Commission on Wednesday.

Moore resolved the matter...
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