Abraxis loses civil suit.A Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. jury has awarded a tiny Netherland Antilles-based licensing company $2.6 million in fees and interest that it ruled a subsidiary of Abraxis Bioscienee Inc. owes for licensing a piece of drug delivery technology first developed at UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX . The case dates from the late 1990s, when a predecessor company of Los Angeles-based Abraxis was a struggling drug developer years away from FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval for its first cancer drug, Abraxane. Abraxis was formed from the 2006 merger of two companies controlled by former UCLA researcher Dr. Patrick SoonShiong. Bioquest Venture Leasing Co. contends that VivoRx, a subsidiary of SoonShiong's American BioScience bioscience /bio·sci·ence/ (-si´ens) the study of biology wherein all the applicable sciences (physics, chemistry, etc.) are applied. bi·o·sci·ence n. See life science. Inc., still owed $960,000 in licensing fees when it stopped making payments in 1999. The technology, developed by another UCLA researcher, involved a way to deliver therapies via biomanufactured antibodies, and is not used in any current Abraxis product. But Bioquest contends VivoRx sublicensed the intellectual property to another company, which is using the technology in its products today. It also contends that American BioScience siphoned revenue from VivoRx to cover some unrelated legal battles it was fighting, a contention the company denied. Attorneys handing the case for Abraxis were traveling and could not be reached for comment, a company spokeswoman said. The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Superior Court judge in the case is whether Abraxis, as the surviving parent company, is the "alter ego A doctrine used by the courts to ignore the corporate status of a group of stockholders, officers, and directors of a corporation in reference to their limited liability so that they may be held personally liable for their actions when they have acted fraudulently or unjustly or when " entity liable for the damages. |
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