UBiome’s independent directors are ditching the healthcare startup following an FBI raid, and now there’s only 1 left


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Microbiome-testing company uBiome’s board now only has one independent director, following a raid of the company by the FBI in April.
In a letter to investors sent Tuesday, a special committee of uBiome’s board of directors said that two board members, UCSF professor Joe DeRisi and early founder Witt Wisebram, have resigned.
That leaves 8VC partner Kimmy Scotti as the sole independent board member, heading up a special committee of the board that placed cofounders and co-CEOs Jessica Richman and Zac Apte on administrative leave.
“At this critical time, Ms Scotti, through the Special Committee, and with the support of her partners at 8VC is fully committed to acting in the best interests of all uBiome’s stakeholders, even if she must do so alone,” the letter said.
You can read the full letter below.
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Microbiome-testing company uBiome is down to its last independent board member, as the startup confronts scrutiny from federal and state officials.

In late April, the FBI raided uBiome’s headquarters, reportedly related to the microbiome-testing company’s billing practices. After the raid, two of the startup’s three independent board members resigned: Witt Wisebram, one of the company’s original founders; and Dr. Joseph DeRisi, a professor at the University of California, San Francisco.

That leaves 8VC partner Kimmy Scotti as the sole independent board member, according to a letter sent to investors on Tuesday that was obtained by Business Insider. 8VC led the company’s series B funding round.

“At this critical time, Ms Scotti, through the Special Committee, and with the support of her partners at 8VC is fully committed to acting in the best interests of all uBiome’s stakeholders, even if she must do so alone,” the letter said.

DeRisi and Wisebram were initially slated to serve with Scotti on a special committee of …read more

Source:: Business Insider

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