Tuesday, February 07, 2012

Sloan-Kettering Chief, Celgene Sued Over Cancer Research - Businessweek

Feb. 6 (Bloomberg) -- The head of Memorial Sloan-Kettering Cancer Center was accused along with biotechnology company Celgene Corp. of using research he helped develop at another cancer institute to start his own company.

The Leonard and Madlyn Abramson Family Cancer Research Institute at Philadelphia’s University of Pennsylvania sued Dr. Craig Thompson in federal court in Manhattan for fraudulent misrepresentation, asking a judge to decide on the ownership of intellectual property rights to the research. The institute seeks damages from Thompson of more than $1 billion, according to the complaint.

Thompson studied cancer metabolism while he was scientific director of the institute, which was created by a $100 million donation from the Abramson family foundation to the university, according to the complaint filed Dec. 13. Without telling the institute, Thompson formed Agios Pharmaceuticals Inc. to exploit the research and got funding from Summit, New Jersey-based Celgene, the institute said.

Posted via email from Jack's posterous

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