An Australian biotech firm at the centre of an insider trading scandal involving a US congressman insists it has done nothing wrong and co-operated fully with American investigators.
Christopher Collins, a prominent Republican supporter of US President Donald Trump, has been charged by American authorities with fraud and lying to the FBI about illegal trading in Innate Immunotherapeutics shares in June 2017.
In a statement to the Australian stock market on Thursday, Innate said it co-operated fully with requests for information by the US Securities and Exchange Commission regarding Mr Collins, a former Innate director and one of its biggest shareholders.
"The company and its directors/officers (excepting Mr Collins) are not under investigation," the Melbourne-based biotech said.
"The company considers the ongoing investigation to be a private matter to Mr Collins."
The 68-year-old New York congressman is accused of tipping off his son Cameron in June last year about highly sensitive confidential information about the failure of a clinical trial involving a drug Innate was developing to treat multiple sclerosis.
Minutes after Mr Collins received the information in an email from Innate's chief executive, he allegedly called his son so he could sell his shares before the information became public a few days later.
Cameron Collins is also accused of tipping off his fiancee, her family and friends, who also sold their Innate shares and collectively avoided $US768,600 ($A1.0 million) in losses when the stock plunged 92 per cent once details about the failed trial were made public.
Cameron Collins and his fiancee's father Stephen Zarsky were also charged. All three have pleaded not guilty before a federal court judge in Manhattan.
US Attorney Geoffrey Berman said Mr Collins "cheated our markets and our justice system" by tipping off his son about Innate's failed trial and then lying about it to the FBI.
"Congressman Collins had an obligation, a legal duty to keep that information secret until that information was released by the company to the public," he said.
"But he didn't keep it secret. Instead, as alleged, he decided to commit a crime. He placed his family and friends above the public good."
The New York-based congressman, who owns 9.24 per cent of Innate's shares, resigned from the firm's board on May 4 this year after serving 12 years as a director.
He insists he's done nothing wrong, telling reporters in Buffalo the charges are "meritless and I will mount a vigorous defence in court to clear my name".
America's House of Representative's Ethics Committee last October said it was investigating Mr Collins because it had "a substantial reason to believe" he violated House rules and federal laws.
The committee is yet to announce its findings.
Mr Collins, his son and Mr Zarsky are due to face court in Manhattan on October 11.
ASIC has declined to comment on the case.