Icahn School Of Medicine At Mount Sanai Files Complaint Against Neurocrine Biociences For Breach Of Contract - Neurocrine Biosciences (NASDAQ:NBIX)

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On December 1, 2015, Icahn School of Medicine at Mount Sinai ("Mount Sinai") filed a complaint against Neurocrine Biosciences, Inc. ("Neurocrine") in the United States District Court for the Southern District of New York: Icahn School of Medicine at Mount Sinai v. Neurocrine Biosciences, Inc., Case No. 1:15-cv-09414. In the complaint, Mount Sinai alleges that Neurocrine, by entering into an exclusive worldwide collaboration with AbbVie Inc. to develop and commercialize next-generation gonadotropin-releasing hormone, or GnRH, antagonists, has breached its license agreement with Mount Sinai dated August 27, 1999. Mount Sinai is seeking unspecified monetary damages, future sublicensing fees and attorney's fees. Neurocrine believes that it has meritorious defenses to the claims made in the complaint and intends to vigorously defend itself against such claims, but is not able to predict the ultimate outcome of this action.

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