STAT+: Beam Therapeutics sues Chinese biotech, VC-backed startup, alleging theft of intellectual property
The gene-editing company Beam Therapeutics is alleging that one of its scientists stole intellectual property and used it to co-found a Chinese company that made a deal with VC firms.
AstraZeneca has committed $2 billion towards Summit Therapeutics, according to recent reports. The sum represents the total potential value of the deal, should all future milestones be met. This investment comes after Novo Nordisk licensed a promising drug from Hengrui Pharma. The drug is a weekly oral medication combining GLP-1 and GIP receptor agonists, currently in Phase 1 clinical development. The deal price was $300 million upfront from Hengrui, excluding China.
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