Complaint Also Alleges Unfair and Deceptive Trade Practices, Unjust Enrichment, Unfair Competition and False Advertising about Tekmira's Proprietary Lipid Nanoparticle (LNP) Technology Conference Call at 5:00 pm Eastern Time Today to Discuss Lawsuit VANCOUVER, British Columbia, March 16, 2011 (GLOBE NEWSWIRE) -- Tekmira Pharmaceuticals Corporation (Nasdaq:TKMR) (TSX:TKM), a leading developer of RNA interference (RNAi) therapeutics, has filed a complaint against Alnylam Pharmaceuticals, Inc. for misappropriation and misuse of trade secrets, know-how and other confidential information, unfair and deceptive trade practices, unjust enrichment, unfair competition and false advertising. The suit, filed in the Business Litigation Session (BLS) of the Massachusetts Superior Court, alleges Alnylam exploited its confidential relationship as a collaborator with Tekmira to engage in inappropriate and harmful conduct concerning Tekmira's proprietary lipid nanoparticle (LNP) siRNA delivery technology, resulting in damage to Tekmira's intellectual property and business interests. A full copy of the legal complaint can be accessed through the company's website at www.tekmirapharm.com . In summary, the complaint states that Alnylam has harmed Tekmira and its shareholders by:
- misappropriating confidential information, including trade secrets and other commercially valuable information from Tekmira;
- disclosing Tekmira's step-by-step LNP formulation manufacturing instructions to at least one third-party collaborator;
- incorporating Tekmira's confidential information into Alnylam's patent filings and claiming ownership in direct violation of a licensing agreement between the two companies;
- willfully and knowingly misusing Tekmira's confidential information for Alnylam's own enrichment; and,
- engaging in other unfairly competitive, deceptive and misleading actions in their public disclosures such as claiming Tekmira's technology as their own.