Tag Archives: Case

Biotech companies Alnylam, Dicerna settle trade secrets case
April 20, 2018 6:05 pm|Comments (0)

BOSTON (Reuters) – Alnylam Pharmaceuticals Inc said on Friday that Dicerna Pharmaceuticals Inc will pay it $ 25 million in cash and stock to resolve a lawsuit claiming it stole trade secrets about gene-silencing technology used to develop drug treatments.

The settlement between the two biotech companies resolves a lawsuit that Alnylam filed against Dicerna in 2015. The accord came ahead of a jury trial that was set to begin on Monday in state court in Woburn, Massachusetts.

Under the agreement, Dicerna said it will pay Alnylam $ 2 million up-front plus 983,208 shares of its common stock.

Cambridge, Massachusetts-based Dicerna said it will also pay Alnylam another $ 13 million over the next four years, the timing of which is dependent on revenue Dicerna receives pursuant to future RNAi technology-based partnerships under its GalXC brand.

Alnylam, also Cambridge-based, in a statement said the deal would also place certain restrictions on Dicerna. Neither company admitted wrongdoing.

Dicerna’s stock was trading at $ 13.20 midday on Friday, up 29.12 percent. Shares in Alnylam were trading at $ 97.59, up 1.46 percent.

Alnylam’s lawsuit accused Dicerna of misappropriating confidential information related to RNAi technology Alnylam acquired when in 2014 when it bought a Merck & Co Inc subsidiary in a deal it valued in court papers at $ 325 million.

RNAi, or RNA interference, prevents a defective gene from making disease-causing proteins.

The lawsuit said Dicerna, which unsuccessfully tried to acquire RNAi assets from Merck, used confidential information it reviewed while considering the potential transaction in violation of a confidentiality agreement.

Alnylam contended Dicerna also hired several Merck scientists who had been involved in developing the technologies its rival acquired as part of an intentional scheme to gain access to trade secrets and confidential information.

Alnylam in court papers filed in Middlesex County Superior Court said the scheme allowed Dicerna to develop “strikingly similar” technologies within a year and unjustly enriched the company by up to $ 325 million.

Dicerna denied the allegations. It filed a counterclaim alleging Alnylam was pursuing a frivolous lawsuit that improperly interfered with its funding sources and partnership opportunities in order to crush its smaller competitor.

Dicerna sought $ 42.2 million in damages. It also filed a related federal antitrust case against Alnylam, which is also being settled.

Reporting by Nate Raymond in Boston; Editing by Tom Brown

Tech

Posted in: Cloud Computing|Tags: , , , , , , ,
U.S. biotech companies Alnylam, Dicerna settle trade secrets case
April 20, 2018 6:01 pm|Comments (0)

BOSTON (Reuters) – Dicerna Pharmaceuticals Inc on Friday said that it will pay $ 15 million plus stock to Alnylam Pharmaceuticals Inc to resolve a lawsuit claiming it stole trade secrets about gene-silencing technology used to develop drug treatments.

The settlement between the two biotech companies resolves a lawsuit that Alnylam filed against Dicerna in 2015. The accord came ahead of a jury trial that was set to begin on Monday in state court in Woburn, Massachusetts.

Under the agreement, Dicerna will pay Alnylam $ 2 million up-front plus 983,208 shares of its common stock, worth around $ 13.7 million based on the stock’s price at midday on Friday. Dicerna’s stock price was up 38.68 percent.

Cambridge, Massachusetts-based Dicerna said it will also pay Alnylam another $ 13 million over the next four years, the timing of which is dependent on revenue Dicerna receives pursuant to future RNAi technology-based partnerships under its GalXC brand.

“With today’s announcement of a settlement with Alnylam, we are now able to focus the entirety of our resources on the advancement of our key clinical and discovery programs,” Dicerna Chief Executive Douglas Fambrough said in a statement.

Alnylam, also Cambridge-based, did not respond to a request for comment.

Alnylam’s lawsuit accused Dicerna of misappropriating confidential information related to RNAi technology Alnylam acquired when in 2014 when it bought a Merck & Co Inc subsidiary in a deal it valued in court papers at $ 325 million.

(Corrects settlement amount in first paragraph to say $ 15 million)

Reporting by Nate Raymond in Boston; Editing by Tom Brown

Tech

Posted in: Cloud Computing|Tags: , , , , , , , ,
Canadian charged in Yahoo hacking case to plead guilty in U.S.
November 25, 2017 12:08 am|Comments (0)

(Reuters) – A Canadian accused by the United States of helping Russian intelligence agents break into email accounts as part of a massive 2014 breach of Yahoo accounts is expected to plead guilty next week, according to court records.

A photo illustration shows a Yahoo logo on a smartphone in front of a displayed cyber code and keyboard on December 15, 2016. REUTERS/Dado Ruvic/Illustration

Karim Baratov, who earlier this year waived his right to fight a U.S. request for his extradition from Canada, is scheduled to appear in federal court in San Francisco on Tuesday for the plea hearing, according to a court calendar seen on Friday.

Baratov, a 22-year-old Canadian citizen born in Kazakhstan, was arrested in Canada in March at the request of U.S. prosecutors. He later waived his right to fight a request for his extradition to the United States.

Andrew Mancilla, Baratov’s lawyer, declined to comment. A spokesman for the U.S. Attorney’s Office in San Francisco did not respond to a request for comment.

The U.S. Justice Department announced charges in March against Baratov and three other men, including two officers in Russia’s Federal Security Service (FSB), for their roles in the 2014 theft of 500 million Yahoo accounts.

Verizon Communications Inc (VZ.N), the largest U.S. wireless operator, acquired most of Yahoo Inc’s assets in June.

Prosecutors said that the FSB officers, Dmitry Dokuchaev and Igor Sushchin, directed and paid hackers to obtain information and used Alexsey Belan, who is among the U.S. Federal Bureau of Investigation’s most-wanted cyber criminals, to breach Yahoo.

When the FSB officers learned that a target had a non-Yahoo webmail account, including through information obtained from the Yahoo hack, they worked with Baratov, who was who paid to break into at least 80 email accounts, prosecutors said.

The individuals associated with the accounts they sought to access included Russian officials, the chief executive of a metals company and a prominent banker, according to the indictment.

At least 50 of the accounts Baratov targeted were hosted by Google, the indictment said.

Tuesday’s proceedings before U.S. District Judge Vince Chhabria are scheduled as a “change of plea” hearing.

Baratov, the only person arrested to date in the case, previously in August pleaded not guilty to conspiring to commit computer fraud, conspiring to commit access device fraud, conspiring to commit wire fraud and aggravated identity theft.

Reporting by Nate Raymond in Boston; Editing by Tom Brown

Our Standards:The Thomson Reuters Trust Principles.

Tech

Posted in: Cloud Computing|Tags: , , , , , , ,
This 3D-printed iPhone case will increase your Pokémon-catching rate
July 23, 2016 4:05 pm|Comments (0)

Https%3a%2f%2fblueprint-api-production.s3.amazonaws.com%2fuploads%2fcard%2fimage%2f154538%2f3dprintedpokemongocase

Feed-twFeed-fb

Pokémon Go is easy enough for anyone to pick up, but if you want to catch ’em all, you’ll need to master the art of throwing Poké Balls.

For the most part, catching a Pokémon in the game is as simple as throwing a Poké Ball straight up at the monster and hoping it doesn’t escape. You can also throw a curve ball at Pokémon, but that’s a more advanced technique.

To get the perfect straight throw every time, My Mini Factory user Jon Cleaver has created this clever Poké Ball “aimer” case for iPhone.

With the case slipped over an iPhone, players can swipe perfectly straight up whenever they encounter a Pokémon.  Read more…

More about Diy, Pokemon, Pokemon Go, Iphone, and Iphone Case


Uncategorized

Posted in: Web Hosting News|Tags: , , , , , ,