Inovio wins $80.42 million judgment against VGXI, GeneOne
INO•Inovio Pharmaceuticals won an $80.42 million judgment against VGXI and GeneOne Life Science, including $61.75 million in compensatory damages and $18.67 million in fees and costs. The court rejected the defendants’ counterclaims, but their financial condition will likely impair collection of some or all of the award.
1. Court awards damages
Inovio Pharmaceuticals won an $80.42 million judgment against VGXI and GeneOne Life Science in Pennsylvania’s Montgomery County Court of Common Pleas. The award includes $61.75 million in compensatory damages and $18.67 million in fees and costs, and the court rejected the defendants’ counterclaims.
2. Dispute over supply agreement
The lawsuit, filed June 3, 2020, concerned the defendants’ alleged breach of technology transfer obligations under a supply agreement for DNA plasmid manufacturing. Inovio intends to pursue recovery, though the defendants’ financial condition will likely impair collection of some or all of the judgment.
