JHL Biotech Executives Convicted Over Trade Secrets Theft
As Renamed Firm Eden Biologics Appoints New Chief Executive
Two former JHL Biotech executives, Racho Jordanov and Rose Lin, have been convicted in the US of conspiracy to commit trade secret theft and wire fraud after submitting plea agreements. Meanwhile, the company – now named Eden Biologics – has just announced a change of CEO.
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Two former JHL Biotech executives, co-founders Racho Jordanov and Rose Lin, have been accused of a “fraudulent scheme to steal thousands of confidential and proprietary documents from Genentech” to help the firm accelerate its development and production of biosimilars.
Taiwan’s JHL Biotech has rebranded itself as Eden Biologics at the same time as it has announced progress on clinical trials for its denosumab biosimilar candidate.
Genentech reaches memorandum of understanding with JHL Biotech involving four biosimilars while continuing its suit against former employees; Amgen settlement with Coherus ended litigation entirely.