Genzyme Sued As Gene Therapy Pact Falls Apart

Law360, New York (February 2, 2009, 12:00 AM EST) -- A gene therapy development company with only 13 employees has sued biotechnology giant Genzyme Corp. for allegedly misappropriating its intellectual property and depriving it of at least $5 million in benefits.

In a complaint filed Monday with the U.S. District Court for the Northern District of Florida, Applied Genetic Technologies Corp. asked for a declaratory judgment that Genzyme could not terminate an agreement between the parties right as it was on the verge of achieving milestones that would have triggered obligations to pay AGTC $5 million....
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