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Joe Biden’s son-in-law Howard Krein is an informal adviser to the Democratic presidential candidate on the response to the coronavirus pandemic, while simultaneously investing in health-care startups to address the pandemic, Politico reported on Tuesday.
Krein’s venture capital business, StartUp Health, announced in April that it would invest in ten medical startup companies that craft solutions to issues posed by the pandemic. At the same time, Krein was among several individuals speaking with the Biden campaign regarding its health policy.
The initiative by StartUp Health was dubbed the “Pandemic Response Health Moonshot,” language that echoes Biden’s own “Cancer Moonshot” project from his last year in the Obama administration.
Krein’s position raises questions about a possible conflict of interest for the Biden campaign. A campaign official confirmed to Politico that Krein was an informal adviser who has participated in calls with the candidate on pandemic response.
“I have little doubt that the relationship to Joe Biden, particularly if he becomes president, would attract the interest of some investors,” Avik Roy, founder of investment firm Roy Healthcare Research, told Politico. Roy is a former adviser to Senators Marco Rubio (R., Fla.) and Mitt Romney (R., Utah).
The news follows a series of disclosures detailing that Biden’s son Hunter pursued while his father was serving as vice president. According to a Senate Intelligence Committee report released in September, “Hunter Biden received millions of dollars from foreign sources as a result of business relationships that he built during the period when his father was vice president of the United States and after.”
In particular, Hunter Biden and his business partner Devon Archer engaged in monetary transactions with Ye Jianming, a Chinese businessman with connections in the Communist Party and People’s Liberation Army. Archer was convicted of defrauding a Native American tribe in 2018, and has a sentencing hearing scheduled for this coming January.