Viking Therapeutics Accuses Chinese Company of Stealing Trade Secrets

Viking Therapeutics is suing Ascletis Bioscience for allegedly stealing trade secrets related to its leading liver disease drug candidate. According to the company, it gave Ascletis confidential information about the drug while discussing a potential business opportunity in 2019.

Viking Therapeutics has filed a complaint in the Southern District of California, alleging that Ascletis used the confidential information to advance its own liver disease drug development program. The company is seeking damages and an injunction to prevent Ascletis from using the stolen trade secrets.

According to Viking Therapeutics, it shared confidential information about its leading liver disease drug candidate with Ascletis Bioscience while discussing a potential collaboration between the two companies. However, Viking now alleges that this was merely a "ruse" for Ascletis to steal its trade secrets and advance its own drug development program.

Viking Therapeutics is a biopharmaceutical company focused on the development of novel therapies for the treatment of liver disease and other metabolic disorders. Its leading drug candidate, VK2809, is a thyroid hormone receptor agonist that has shown promising results in early clinical trials for the treatment of non-alcoholic steatohepatitis (NASH).

Ascletis Bioscience is a Chinese biotechnology company that develops and commercializes innovative drugs for the treatment of viral hepatitis, cancer, and other diseases. The company has a number of drug candidates in various stages of development, including a liver disease drug that is in Phase 2 clinical trials.

Chinese intellectual property theft is a serious issue

Intellectual property theft is a serious issue that affects companies around the world, and China has been accused of being a major contributor to this problem. According to a report by the U.S. Trade Representative, China is one of the main sources of counterfeit goods and pirated software, and it has also been accused of stealing trade secrets from foreign companies.

One way that China has been accused of stealing trade secrets is through the forced transfer of technology. Foreign companies that want to do business in China are often required to partner with a local company and share their technology with them. This can lead to the theft of intellectual property, as local partners may use the technology for their own purposes or share it with other companies.

Another issue is the lack of strong intellectual property protections in China. Patent and trademark violations are common, and it can be difficult for foreign companies to enforce their intellectual property rights in Chinese courts. This creates an environment where intellectual property theft is more likely to occur.

In recent years, there has been increased pressure on China to address these issues and improve its intellectual property protections. The U.S. has taken a number of steps to address the problem, including imposing tariffs on Chinese imports and negotiating new trade deals that include stronger intellectual property provisions. However, the issue of intellectual property theft remains a significant concern for many companies doing business in China.

This lawsuit is a reminder of the importance of protecting trade secrets in the highly competitive world of pharmaceutical development. Companies invest significant resources in research and development, and the theft of trade secrets can have serious consequences for their business. It will be interesting to see how this case plays out and whether Viking Therapeutics is successful in its efforts to protect its intellectual property.