Aligos co-founders file lawsuit against Johnson & Johnson allegations

  • Aligos Therapeutics Inc ALGS Has submitted an answer on the claim and counterclaim against Janssen Biopharma.
  • In November 2014 Johnson & Johnson JNJ acquired Alios BioPharma Inc, a privately held infectious disease biotech company, for approximately $1.75 billion Cash.
  • Lawrence Blatt and Leonid Beigelman co-founded Alios.
  • Following the acquisition of J&J in 2014, Blatt and Beigelman join Janssen. But Blatt and Beigelman left Janssen, beginning Aligos Therapeutics Inc ALGS in 2018.
  • The response to Janssen’s complaint lists publicly available information, previous work experience, publications and patents of Aligos co-founders related to the first discovery of oligonucleotides against the hepatitis B virus, and the licenses obtained by Aligos were used as the basis for Aligos HBV uses Portfolio.
  • The response further outlines and documents that Aligos employees carried out all work after leaving Janssen Biopharma.
  • In its complaint filed in March, Janssen alleges that “Blatt and Beigelman stole work related to at least four R&D programs, reflecting years of effort and funding by Janssen. Then Blatt and Beigelman used the stolen material to create Aligos’ product pipeline. “
  • In addition to responding to Janssen’s complaint, Aligos also logged his complaint, alleging that Janssen made false promises to Blatt and Beigelman when they agreed to work there following the Alios acquisition.
  • Janssen objected to these claims and proposed that they be dismissed.
  • Price promotion: ALGS shares closed at $1.06 on Wednesday.


Read full story here https://www.benzinga.com/general/biotech/22/09/29072503/aligos-co-founders-file-complaint-against-johnson-johnson-alleging-fraud