MoFo secured a highly favorable settlement for Ferring Pharmaceuticals, a leader in the fields of gastroenterology and reproductive medicine. The settlement resolves Ferring’s claims against VectivBio, a subsidiary of Ironwood Pharmaceutical, relating to the GLP-2 inhibitor apraglutide. MoFo filed a complaint last October in the Eastern District of Texas that included allegations of trade secret misappropriation and inventorship as to certain apraglutide intellectual property, and reached the settlement just before the New Year. As part of the settlement, VectivBio agreed to make $12.5 million in upfront payments to Ferring, as well as to pay a high single digit running royalty on future sales.
The MoFo team was led by partner Matthew Chivvis, with support from partner Daralyn Durie, partner Alyssa Monsen, and associates Vi Tran, John Douglass, Evelyn Chang, and Aaron Chow.