WOBURN, Mass.--(BUSINESS WIRE)--LinkedUp Bioscience and TianTi Biotherapeutics are pleased to announce the resolution of the lawsuit brought by Adimab, LLC, and related parties. The litigation involves Adimab alleging trade secret misappropriation and LinkedUp and TianTi counterclaim of unfair trade practices, intentional interference, and emotional distress.
Under the agreement, the litigation will be dismissed with prejudice, with none of the parties admitting liability or wrongdoing. Adimab withdraws its claims against LinkedUp, and LinkedUp retains the right to continue using its technology. Likewise, LinkedUp withdraws its counterclaims. The terms of the agreement are confidential.
Adimab filed the lawsuit in 2020, citing an alleged admission of wrongdoing by LinkedUp and its related party. However, the Court's Decision and Order on May 25, 2023, found that Adimab's claims lacked factual support or arguable legal basis. The Court stated, "Adimab has not shown that LinkedUp used any proprietary yeast strain, yeast engineering, or genotype information, or any other confidential information or technology that belongs to Adimab." The AbLink platform remains unchanged. TianTi and LinkedUp can now continue to use the AbLink platform unfetteredly to develop their pipeline and collaborate with their partners for antibody discoveries.
This resolution marks a pivotal moment for LinkedUp Biosciences and TianTi Biotherapeutics, allowing them to proceed with their business operations without any legal hindrances. They reiterate their commitment to innovation and the continued development of groundbreaking medicines through their proprietary antibody discovery platforms.
