(L-R) Frank Rahmani, Istvan Hajdu and Carlton Fleming of Sidley Austin. Courtesy photos There is some light at the end of the tunnel for small and midsized life sciences companies. The broader biotechnology equity capital markets, as evidenced by the Nasdaq Biotechnology index (NBI) and S&P Biotechnology ETF (XBI), while still well below their high marks in early 2021, have rebounded from their more recent lows in June 2022.
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A sampling of big litigation wins that landed during the Litigator of the Week cycle that ended on April 2.
“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Mark Jensen, chair and member of the Special Committee of the 23andMe board of directors, said.
The Ninth Circuit panel rejected challenges from Elizabeth Holmes and Ranesh Balwani, who questioned the propriety of testimony from former employees of the failed blood-testing company and said any errors in calculating restitution for investors were harmless because the award was warranted to make them "whole."
David Siffert, legal director at S.T.O.P., discusses 23andMe’s possible bankruptcy along with the potential legal fallout and the privacy threat it poses to our genetic data.
"The most important thing about the win is it lets scientists who are really dedicated to trying to improve the lives of cancer patients to get back to focusing on that," said Luis Li, a Wilson Sonsini attorney who served as lead trial counsel for Inhibrx.
