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Ramaswamy Hired His Mom to Re-Crunch a Failed Alzheimer's Drug's Numbers. Three Weeks Before It Failed Again, SoftBank Made Him Whole.

Ramaswamy Hired His Mom to Re-Crunch a Failed Alzheimer's Drug's Numbers. Three Weeks Before It Failed Again, SoftBank Made Him Whole.

Vivek Ramaswamy bought a discarded Alzheimer's drug for $5 million, put his mother on the payroll to reanalyze the failed trial data, and raised $315 million. Twenty days before the drug failed again, SoftBank put $1.1 billion of new equity into the parent company. A California teachers' pension fund lost more than $1 million.