Science Cos. Clash Over Failed Spine Screw Deal

Law360, New York (August 14, 2009, 5:23 PM EDT) -- Creative NeuroScience Applications LLC has sued Innovative Spinal Technologies Corp., alleging IST failed to make good on an agreement to develop and market multimillion-dollar technology relating to spinal screws and rods.

In an amended complaint filed Thursday in the U.S. District Court for the Northern District of New York, Creative NeuroScience claims IST wasted more than $38 million by failing to commercialize the product it paid IST to develop.

Creative NeuroScience entered an agreement with IST in 2004 in which it provided IST the rights to...
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