Collins Paints Himself as Medical Patron, Won't Drop Re-Election Bid

New York Republican Rep. Chris Collins announced Wednesday night he will stay in office and remain in his race for re-election, calling criminal insider trading charges filed against him earlier in the day “meritless.”

Collins highlighted his long affiliation with Australian biotechnology company Innate Immunotherapeutics, saying he was the biggest investor and lost most of the money he invested when it failed a clinical drug trial to treat multiple sclerosis.

“I will mount a vigorous defense in court to clear my name,” Collins said. “I look forward to being fully vindicated and exonerated, ending any and all questions relating to my affiliation with Innate.”

Collins said he will not address any issues related to Innate outside the courtroom.

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