Synergy Pharmaceuticals, Inc. (Nasdaq:SGYPD, SGYPU), a developer of new drugs to treat gastrointestinal (GI) disorders and diseases, announced today that it has filed a lawsuit in New York State Supreme Court against Ironwood Pharmaceuticals, Inc. (Nasdaq:IRWD) and its Chief Scientific Officer and Senior VP of R&D, Dr. Mark G. Currie.
The lawsuit alleges that after European patent 1,379,224 was granted to Synergy but prior to issuance, Ironwood and Dr. Currie opposed the patent before the European Patent Office and presented to the European Patent Office and the United States Patent and Trademark Office, data and arguments that were false, contradictory, inaccurate and misleading. In its complaint, Synergy accuses Ironwood and Dr. Currie of, among other things, unfair competition, fraud and unjust enrichment and seeks $500 million in actual and punitive damages.
About Synergy Pharmaceuticals, Inc.
Synergy is a biopharmaceutical company focused on the development of new
drugs to treat gastrointestinal disorders and diseases. Synergy's
proprietary drug candidate plecanatide is a synthetic analog of the
human gastrointestinal hormone uroguanylin, and functions by activating
the guanylate cyclase C receptor on epithelial cells of the GI tract.
Synergy completed a Phase I study of plecanatide in healthy volunteers
and a Phase IIa clinical trial in patients to treat chronic idiopathic
constipation (CIC) patients. In October 2011, Synergy initiated dosing
of patients in a major Phase II/III clinical trial of plecanatide in CIC
patients. Plecanatide is also being developed to treat
constipation-predominant irritable bowel syndrome, with the first trial
in IBS-C patients planned for 2012. Synergy’s second GC-C agonist SP-333
is currently in pre-clinical development to treat inflammatory bowel
diseases. More information is available at
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