BioVeris Sues Spinoffs Over $4.4M Contract Spat

Law360, New York (June 25, 2013, 1:55 PM EDT) -- BioVeris Corp. in Delaware federal court on Monday sued two companies owned by its founder that were spun off following BioVeris' 2007 acquisition by Roche Holding AG, alleging they had stiffed it on nearly $4.4 million owed under asset transfer and licensing agreements.

According to BioVeris, biotechnology companies Wellstat Diagnostics LLC and Wellstat Vaccines LLC had agreed to pay it for certain assets and to license technology as part of their spinoff from BioVeris, but had failed to make the final payments owed under the deals,...
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