Exelogen Reminds Interested Parties of Commercial Contracts and Arrangements Lawsuit Filed Against the University of Birmingham on May 18
SAN FRANCISCO, CA, UNITED STATES, June 9, 2021 /EINPresswire.com/ — Exelogen Inc. v. the University of Birmingham: Exelogen Reminds Interested Parties of Commercial Contracts and Arrangements Lawsuit Filed Against the University of Birmingham on May 18
On behalf of Exelogen Inc., the law firm of Griffin Law has filed a general commercial contracts lawsuit against the University of Birmingham, on May 18, 2021 (case number CL-2021-000302, in the Commercial Court of the High Court of Justice of England and Wales).
Exelogen is a U.S. biopharmaceutical company that develops medicines for the treatment of neurological conditions. In April 2018, it entered into an exclusive contractual relationship with the University of Birmingham for the option to develop, manufacture, use and sell products utilised or derived from the research of the university involving the possible application of exenatide to the treatment of various neurological disorders, including idiopathic intracranial hypertension (IIH).
In an alleged breach of that exclusivity agreement, the university entered into negotiations and then a licence with a third party (Invex Therapeutics Inc. (ASX: IXC) (“Invex”)), with which it is bringing the drug to market.
The claim alleges that Exelogen has been deprived by the university of rights under the exclusive agreement and the opportunity to negotiate for an exclusive licence to take exenatide for treating IIH to market. The claim also alleges that the university was in talks with Invex at the time it purportedly terminated the exclusive agreement with Exelogen on or around November 7, 2018. In addition, such talks involved information deemed confidential to Exelogen and used in the negotiations between the university and Invex. As such, the claim is brought in breach of confidence, breach of contract, and restitution.
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SOURCE Exelogen Inc.