Fate Therapeutics Inc (FATE)

[jondoeuk]

On the 13th of May, the company filed a six-count complaint in San Diego Superior Court against Shoreline Bio and its two founders, Dr. Dan S. Kaufman and Dr. Kleanthis G. Xanthopoulos. These claims stem from Dr. Kaufman's founding of and participation in Shoreline's business, in breach of his exclusivity obligations pursuant to a Scientific Advisor Agreement between Dr. Kaufman and role as a scientific advisor to Fate. Fate claims include actions for breach of contract, breach of implied covenant of good faith and fair dealing, fraud and deceit, tortious interference, restitution for unfair business practices and unjust enrichment. Fate is seeking monetary damages.

Also, on the 13th of May, Fate and Whitehead Institute for Biomedical Research filed a second lawsuit in the U.S. District Court for the Southern District of California against Shoreline Bio and Dr. Kaufman seeking damages for the defendants' infringement of U.S. Patents. 8,071,369, 8,932,856, 8,951,797, 8,940,536, 9,169,490, and 10,457,917. The patents, which Fate exclusively license from Whitehead, relate to key compositions and methods for reprogramming human somatic cells to a pluripotent state in the generation of iPSCs. Shoreline Bio and Dr. Kaufman have each filed answers to the Fate complaint denying infringement and alleging invalidity of the patents. Both lawsuits are in their early stages and remain pending.