Martin Shkreli sells remaining shares in KaloBios and company keen to sever ties

US-based KaloBios Pharmaceuticals (Nasdaq: KBIO) has announced that the shamed pharma exec Martin Shkreli has sold his remaining stake in the company.

The drugmaker, which focuses on rare and neglected diseases, has sought to distance itself from Mr Shkreli by publishing a statement saying that he had “fully eliminated his association with the company” and announcing its priorities for transforming its operations.

KaloBios’ statement adds: “In private transactions, Mr Shkreli sold his entire stake in KaloBios directly to other investors. Mr Shkreli has zero ownership of the capital stock of, or ongoing financial interest in, the company. In addition, under the terms of the governance agreement announced July 7, Mr Shkreli continues to be restricted from certain further actions concerning the company for a period of time.”