NEW BRUNSWICK, N.J., Dec. 9, 2014 (GLOBE NEWSWIRE) -- GenScript USA, Inc. and its affiliated companies recently won a significant jury verdict in a trade secret case against GeneWiz Inc.
In awarding more than $10 million to GenScript, the jury determined that GeneWiz illegally obtained and utilized GenScript's trade secrets. The jury also returned a verdict against GeneWiz for improperly hiring GenScript's employees.
The case rested on allegations that the defendants stole confidential procedures GenScript developed for Gene Synthesis. A critical–and potentially life-saving-tool in DNA technology, gene synthesis has been a foundation of GenScript's business for many years, leading to its recognition as a worldwide leader in the industry. The technologies have revolutionized scientific research in areas such as vaccine and other pharmaceutical development, and the production of sustainable biofuels. Applications of gene synthesis also include improving crop yield and reducing crop vulnerability to common pests and plant diseases that endanger food supplies and contribute to global hunger.
"This important victory for GenScript sends a strong reminder that there are rules for fair competition and they will be enforced. Companies like GenScript that take precautions to protect their trade secrets and confidential information have a remedy if and when competitors illegally threaten their business," remarked Willard Shih of Wilentz, Goldman & Spitzer, P.A., who led the firm's trial team. "The jury grasped the central issue," Shih added, "which is that trade secrets are some of the most critical corporate assets that the law protects."
"We are pleased with the outcome of this case," GenScript's Chairman of the Board and CEO Dr. Frank Zhang stated. "While the trial was long and hard fought, I applaud the jury for recognizing that GenScript's methods to synthesize genes are trade secrets that should be protected by the law."
About GenScript USA
Based in Piscataway, New Jersey, GenScript is a leading gene, peptide, protein and antibody research partner for fundamental life science research, translational biomedical research, and early stage pharmaceutical development. Since its establishment in 2002, GenScript has grown into a global Contract Research Organization that provides services and products to scientists in 86 countries worldwide. The company has built a best-in-class capacity and capability for biological research services encompassing gene synthesis and molecular biology, peptide synthesis, custom antibodies, protein expression, antibody and protein engineering, and in vitro and in vivo pharmacology. For more information, visit http://www.genscript.com.
CONTACT: GenScript USA Inc.
Sally Wang, COO
+1-732-885-9188
Sally.Wang@genscript.com
