Frank Zhang (AP Images)

Plot thick­ens around Leg­end Biotech, Gen­Script with founder Frank Zhang's ar­rest

Two months af­ter Leg­end Biotech made the star­tling dis­clo­sure that founder and then-CEO Frank Zhang was placed un­der “res­i­den­tial sur­veil­lance,” its par­ent com­pa­ny re­vealed that he’s been for­mal­ly ar­rest­ed.

Zhang — who, since found­ing Gen­Script 18 years ago, has tak­en the CRO pub­lic and groomed Leg­end Biotech in-house un­til the J&J-part­nered CAR-T play­er was ma­ture enough for its own Nas­daq list­ing — is sev­er­ing his fi­nal ties with both. He is re­sign­ing as board chair/non-ex­ec­u­tive di­rec­tor of Gen­Script and di­rec­tor of Leg­end.

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