Simpson Thacher Reps VC Leader in Dispute Over Joint Venture Agreement to Discover New Drug Molecules
This suit was surfaced by Law.com Radar. Read the complaint here.
May 09, 2023 at 02:10 PM
1 minute read
Pharmaceuticals
John Clarke, managing partner of venture capital firm Cardinal Partners, sued The Scripps Research Institute and Scripps researchers Benjamin Cravatt and Jin-Quan Yu on May 8 in California Superior Court for San Diego County. The suit, brought by Simpson Thacher & Bartlett, accuses the defendants of reneging on an agreement to create a joint venture funded by Clarke and aimed at the discovery and creation of new and enhanced drug molecules. According to the suit, Clarke and the defendants have partnered to launch previous pharmaceutical companies, including Vividion Therapeutics, which was acquired by Bayer in 2021. Counsel have not yet appeared for the defendants. The case is Clarke v. Yu.
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