The Pharma bro was convicted in 2017 on two counts of two counts of defrauding investors at hedge funds and one count of conspiring to commit securities fraud for manipulating stock shares of his pharmaceutical company.
Shkreli's new business venture, Druglike, is a platform that "seeks to democratize and disrupt the current in silico computational chemistry software industry by offering pharmaceutical researchers, students, and activists access to computational resources and a marketplace to securely work together to create new molecules."
Using blockchain technology, Druglike, supposedly helps people in pharmaceuticals discover new drugs without having to pay for expensive "traditional drug discovery software".
"We started Druglike because in our experience, traditional drug discovery software is too difficult and expensive to use," Shkreli said in a press release. "Underserved and underfunded communities, such as those focused on rare diseases or in developing markets, will also benefit from access to these tools."
\u201cAfter five years in prison for a Ponzi scheme and a lifetime ban from the pharmaceutical industry, Martin Shkreli announces his new venture: a web3 drug discovery platform\n\nJuly 25, 2022\nhttps://t.co/7luTfhxFhp\u201d
— web3 is going just great (@web3 is going just great)
However many people felt it was a bad sign that Shkreli was getting involved in web3, mocking him online.
\u201cHmm, I wonder what Martin Shkreli\u2019s been up to since his recent release from prison hahaha just kidding of course it\u2019s web3.\u201d
— Darcy James Argue \ud83c\uddfa\ud83c\udde6 (@Darcy James Argue \ud83c\uddfa\ud83c\udde6)
\u201coh great we really needed a poster-child for how bad web3 is... now we have him\u201d
In January, a federal judge barred Shkreli from the pharmaceutical industry for the rest of his life. However Druglike is apparently "a blockchain/Web3 software company and not a pharmaceutical company" as the company does not engage "in pharmaceutical research or drug development."
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