GBB Drink Lab, which makes the world’s first formulated drink that aids in rapid blood alcohol detoxification - a handy tool, has filed a lawsuit against the psychedelics biotech company FSD Pharma HUGE.
Why? As a result of FSD Pharma’s failure to comply with a Cease-and-Desist letter sent by GBB on April 14th, 2023, GBB Drink Lab filed a $53 million complaint for material breach of a mutual nondisclosure agreement and trade secret misappropriation.
The Lawsuit
Filed on May 1st, 2023, in the U.S. District Court for the Southern District of Florida, the complaint alleges that after seven months of exploring a business opportunity of mutual interest and benefit revolving around GBB’s blood alcohol detoxification drink, FSD Pharma publicly announced the misappropriation of GBB’s trade secrets to current and prospective investors in one of its press releases.
In a press release, FSD Pharma discussed the launch of a new research and development program targeting unmet medical needs for alcohol misuse and omitted the underlying misappropriation.
GBB’s lawsuit alleges that FSD Pharma used GBB’s proprietary and confidential material to raise capital, persuade iconic entrepreneurs to join its advisory board and drive up the price of FSD Pharma’s publicly traded stock.
The company is seeking compensatory and punitive damages as well as an injunction against FSD Pharma preventing further unlawful disclosure and use of the Company’s trade secrets.
The iconic entrepreneur and inventor of the infomercial, Kevin Harrington of ABC's “Shark Tank” joined FSD Pharma's advisory board last February.
GBB's Formula
GBB has a patented formula that accelerates the process of converting alcohol to sugar in the body. By enhancing the metabolic pathways that facilitate this process, the formula can help the body clear alcohol much faster than normal. The Company has been working on a proprietary drink for several years using its patented formula.
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