[ad_1]
Co-founders and co-CEOs of UBiome, Jessica Richman and Zac Apte, were put on administrative leave after a search of the FBI at the company's headquarters.
UBiome appointed Advocate General John Rakow as Interim CEO and announced in a press release on Wednesday that he planned to conduct an independent investigation into the company's billing practices, overseen by his board. d & # 39; administration.
"We intend to fully cooperate with government authorities and private payers in order to satisfactorily resolve the issues raised, and we will take the necessary corrective measures to enable us to become a stronger company, better able to serving patients and health care providers, "Rakow said in a press release Wednesday.
The FBI raided the offices of the ubiome in San Francisco on Friday. UBiome sells tests that sequence the microbiome, or the assortment of bacteria and other living microbes in our body. To date, the company has raised $ 105 million from investors.
The Wall Street Journal, which reported for the first time on this operation, announced that the FBI was investigating ubiome billing practices.
Read more: The FBI has just raided uBiome, a start-up testing microbiomes, as part of an investigation into inappropriate billing
At the time, the FBI had confirmed that its agents "were carrying out law enforcement activities authorized by a court" at the address of the headquarters of the company, but had refused to provide additional information.
UBiome sells physician-controlled tests, including SmartJane, its test that examines the vaginal microbiome to detect sexually transmitted diseases and chronic vaginal infections, and SmartGut, which examines the gut microbiome for intestinal disorders and metabolic disorders. Both can be covered by health insurance. uBiome also sells a direct test to the consumer that does not require a prescription called "Explorer" test.
CNBC reported that UBIome routinely twice loaded its patients' plans for testing. CNBC also indicated that health insurer Anthem had reported to the company its overbilling practices. Anthem did not immediately return a request for comment.
Scientists have been working on ways to use the microbiome to develop new treatments for difficult diseases. This has led to new companies – both medical and agricultural – that are adopting various approaches to examine the microbiome. It is often seen as "the forgotten organ".
[ad_2]
Source link