Biohaven gains as jury awards damages in Yale trade secret lawsuit
BUZZ-Biohaven gains as jury awards damages in Yale trade secret lawsuit ** Shares of Biohaven BHVN.N rise 3% to $14.74
** The drugmaker says a U.S. federal jury found that Avilar Therapeutics and RA Capital Management willfully and maliciously stole a trade secret technology developed at Yale University related to targeted protein degradation
** BHVN licensed Yale's MODA targeted protein degradation platform and holds rights to develop and commercialize the technology
** The jury also found RA Capital breached a 2019 confidentiality agreement with Yale
** Awarded $2 million to Yale for contract breach and $1 million each to Yale and BHVN for trade-secret misappropriation
** BHVN and Yale argued that RA Capital used the information to help build competing drug-developer Avilar
** Filed suit against Avilar and RA Capital in March 2023 in the U.S. District Court for the District of Delaware
** As of last close, BHVN up 30% YTD
(Reporting by Kamal Choudhury in Bengaluru)
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