http://seekingalpha.com/article/1070571-ctic-...erapeutics

About half way down:

A "Revolutionary or a Snake Oil Salesman"?

Mike Wachs' partner at Socius Capital is  Terren Peizer , who holds the titles Chairman and Managing Director, according to a  Business Week executive profile . CBS' 60 Minutes describes him as a "steely eyed financier, a former bond salesman" who "worked for, then testified against, Michael Milken, infamous in the junk bond scandal of the 1980s."

Mr. Wachs is experienced in executing Wall Street " pump and dump " schemes where promoters purchase stock, make statements to make the price go up (the "pump"), and subsequently sell their shares at inflated values (the "dump").