How do you steal $1 billion from a cancer research center? Simple – take their technology.
The University of Pennsylvania's cancer research institute believes it's been ripped off to the tune of $1 billion. The center is pointing a finger at its former scientific director--a prestigious cancer researcher now CEO of Memorial Sloan-Kettering--as the inside man responsible for the heist.
Ah, but the plot thickens. But an in-depth article on the high-profile confrontation by The New York Times is raising fresh questions about the allegations of stealth and subterfuge being made against the investigator.
What is the Real Story?
As with everything there are two sides to every story and with billions of dollars at stake you can rest assured that plenty of attorneys will be having quite a profitable 2012.
The Abramson Family Cancer Research Institute filed suit against Craig Thompson back in mid-January, claiming that he used IP on cancer metabolism--a hot field in oncology research--to secretly launch Agios, a biotech company partnered with Celgene on new cancer remedies. And the university alleges that Thompson continued to conceal his role when asked about it.
Penn’s claim is that Agios worked with Penn to get patents on work done there. And several sources involved in the discussion note that Agios may have been something less than a well-kept secret.
Obviously with research this important and this valuable tight security measures are the norm to protect their intellectual property.
With billions of dollars at stake for any successful new cancer drugs, institutes are more willing to play legal hardball to protect their share of the cash. And it's almost certain to make researchers and institutes far more vigilant about safeguarding their relative IP rights.
What are your thoughts? This type of theft goes far beyond a solid stop theft class. This is thievery at epic proportions. It will be interesting to see how all this plays out!
Read more: http://www.fiercebiotech.com