Daiichi Sankyo secures nearly $46m legal fees in antibody arbitration
Final award follows and incorporates the August 2022 decision by the arbitrator denying all claims levied at the Japanese company | Dispute involves antibody drug conjugate technology.
An arbitrator has ruled in favour of Daiichi Sankyo in its dispute over antibody drug technology, finding that it is owed $45.5 million in attorneys’ fees and arbitration costs.
The decision, delivered earlier this month, ruled against Seagen’s assertion that it holds IP rights to the disputed technology.
It means that Daiichi Sankyo retains all patent rights to its antibody drug conjugate technology and will continue to develop and commercialise these medicines as planned.
The final award follows and incorporates the August 2022 decision by the arbitrator denying all claims made by Seagen that it has ownership interest in certain IP rights related to Daiichi Sankyo’s antibody drug conjugate (ADC) technology.
In a statement released to LSIPR, Daiichi Sankyo said that any impact on its consolidated financials for the fiscal year ending March 31, 2024, is currently being evaluated and will be announced in the future.
The case emerged in November 2019, when Daiichi Sankyo filed a declaratory judgment action in the District Court of Delaware against Seagen in response to their claims of certain IP rights related to Daiichi Sankyo’s ADC technology.
Seagen alleged that these rights were guaranteed under a collaboration agreement between the two companies from 2008 to 2015.
In response, Seagen filed an arbitration demand in connection with the dispute with the American Arbitration Association in the same month, resulting in an arbitration and this week’s decision.
Commenting on the decision, Sunao Manabe, president and CEO of Daiichi Sankyo, said:
“We are extremely pleased that, based on the facts of this matter, the arbitrator recognised that Daiichi Sankyo retains ownership of all patents at issue in the arbitration and that our platform ADC technology was developed by Daiichi Sankyo.”
“Daiichi Sankyo is proud of our legacy and strength in innovative science and technology and remains committed to bringing our ADCs to patients who need new standards of care in cancer treatment.”
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