Tekmira Sues Alnylam Pharmaceuticals for Repeated Misuse of Trade Secrets and Confidential Information
Tekmira Pharmaceuticals Corporation (Nasdaq: TKMR) has filed a complaint against Alnylam Pharmaceuticals, Inc. for misappropriation and misuse of trade secrets, know-how and other confidential information, unfair and deceptive trade practices, unjust enrichment, unfair competition and false advertising.
The suit, filed in the Business Litigation Session of the Massachusetts Superior Court, alleges Alnylam exploited its confidential relationship as a collaborator with Tekmira to engage in inappropriate and harmful conduct concerning Tekmira's proprietary lipid nanoparticle siRNA delivery technology, resulting in damage to Tekmira's intellectual property and business interests.
Tekmira believes it has rights to Alnylam's pipeline products. These damages, including future milestones and royalties associated with these products alone could exceed one billion dollars. In addition, Tekmira will also seek the profits that Alnylam has unjustly received from collaborations based on the wrongful use of Tekmira's technology. All of this will be subject to what Tekmira learns in discovery in prosecuting this case, but even at this early stage, Tekmira believes that it is entitled to very significant damages by reason of Alnylam's illegal conduct as alleged in the complaint.
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