AP NEWS

Delaware pharma company wins lawsuit over secrets, no money

November 8, 2018

WILMINGTON, Del. (AP) — A Delaware pharmaceutical company has won a lawsuit alleging a high-ranking scientist stole company secrets and shared them with a Silicon Valley startup, but will not receive any damages.

The News Journal reports a jury ruled Wednesday that Flexus Biosciences had “misappropriated” an Incyte Corp. trade secret, but that Flexus hadn’t been “unjustly enriched” as a result.

The lawsuit accused Flexus of using confidential information from a former Incyte employee to develop an immunotherapy cancer drug and sell themselves to Bristol-Myers Squibb for $1.25 billion. Flexus argued the information in contention was relatively simple to independently discover.

Incyte said in a statement that they will consider appealing.

Flexus co-founders Terry Rosen and Juan Jaen’s new company Arcus Biosciences said in a statement that it was pleased with the verdict.

___

Information from: The News Journal of Wilmington, Del., http://www.delawareonline.com

AP RADIO
Update hourly