iBio (NYSE AMERICAN:IBIO) filed a motion in the Court of Chancery of the State of Delaware to initiate new litigation against Fraunhofer-Gesellschaft through an amended complaint.
The new motion asserts that depositions conducted in late 2019 of personnel of Fraunhofer-Gesellschaft and its U.S. unit, Fraunhofer USA, revealed that Fraunhofer-Gesellschaft exercised “complete dominion and control over Fraunhofer USA to wrongfully access and direct use of iBio’s intellectual property on many occasions with new and different third parties.”
The motion seeks to amend the complaint filed in March 2015 against Fraunhofer USA on the basis that Fraunhofer-Gesellschaft executives engaged in a pressure campaign to gain access to iBio’s intellectual property.
iBio alleges that Fraunhofer-Gesellschaft sent its scientists to Fraunhofer USA in 2015 and 2016, “requiring disclosure by Fraunhofer USA to Fraunhofer-Gesellschaft of iBio’s confidential intellectual property and otherwise flouting the court’s 2016 decision that all of the intellectual property in the plant area developed or acquired by Fraunhofer USA from 2003 through 2014 is owned exclusively by iBio.”
In a statement, Robert Kay, executive chairman and CEO of iBio, said the company will continue to vigorously protect its intellectual property and “pursue justice through the courts to assure that iBio is fully compensated for the substantial damage caused by Fraunhofer-Gesellschaft’s wrongful conduct.”
