The last time we heard about RNL, their subsidiary company was getting sued for fraud and giving misinformation about stem cell procedures. Human Biostar in Texas is the focus of the lawsuit and the doctor donating his money above is also included. This goes back to participation in a non substantiated procedure used where the patients developed infections.
Patients File Lawsuit Against Human Biostar–Stem Cell Procedures With False Claims to Cure Diseases–Patients Received No Benefits And A Charge of Elder Abuse Included
So today this looks like better news and the US organizations will benefit. His commitments included the establishment of the Bethesda Life Foundation to find cures and treatments for patients with chronic rare diseases. BD
SEOUL, South Korea, Sept. 8, 2012 -- /PRNewswire/ -- Dr. Jeong-Chan Ra, founder and largest shareholder of RNL Bio (www.rnl.co.kr), an international biotechnology research and development firm, has pledged to give away 90% of his personal wealth over the next 10 years to promote social causes consistent with the values of human life. Dr. Ra will donate 90% privately owned equity, equity-related bonds, warrants and other assets of RNL Bio Co. and RNL Bio affiliates to the following four non-profit organizations: Bethesda Life Foundation, Yesung Medical Corporation, Academia Christiana of Korea, and Central Christian Academy.
Dr. Ra's gift is made in the spirit of other major corporate leaders worldwide who have become instrumental philanthropists by converting their personal fortune into a foundation for good, including Bill Gates, Warren Buffett and Bill Clinton. Dr. Ra is mirroring Mr. Buffet and Mr. Gates' contributions that were made in late 2010 for the wealthy to donate at least 50% of their personal wealth.