MedWatch

Zealand Pharma sued over misusing trade secrets

Two separate joint ventures never materialized for Greek biotech company Amyndas, leaving it first to ponder why, and later to blame Zealand Pharma and its US affiliate for running away with its secrets.

Adam Steensberg was the interim CEO when Zealand Pharma signed a partnership deal with Alexion, which was also a breach of confidentiality agreements a Greek firm claims | Photo: Zealand Pharma

”When biotech firms engage in the entrepreneurial equivalent of musical chairs, one firm sometimes gets left out in the cold. That is essentially what happened here.”

Thus opens the appellate court’s decision, penned by Judge Selya of the US Court of Appeals for the First Circuit, in the matter of legal claims against Zealand Pharma concerning the misappropriation of trade secrets, the breaching of confidential disclosure agreements, and conspiracy with another firm.

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