Pro-Pharmaceuticals Shakes Off Trade Secret Claims

Law360, New York (July 17, 2009, 5:55 PM EDT) -- No longer encumbered by Prospect Therapeutics Inc.’s long-running trade secret allegations, Pro-Pharmaceuticals Inc. is forging ahead with the commercialization of its treatment for colorectal cancer.

On Friday, Pro-Pharmaceutical announced that Boston’s Suffolk County Superior Court had dismissed Prospect Therapeutic Inc.’s allegations, now that the plaintiff’s assets have been acquired in a bankruptcy auction by a company unwilling to continue litigating the dispute.

Prospect had inherited the lawsuit from GlycoGenesys and chose to sue to recover intellectual property GlycoGenesys’ former CEO David Platt allegedly misappropriated when he...
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