STAT+: Beam Therapeutics sues Chinese biotech, VC-backed startup, alleging theft of intellectual property

Allison covers what hot startups are getting up to, and who’s financing them. She is also co-host of the weekly biotech podcast, “The Readout Loud.” You can reach Allison on Signal at AllisonDeAngelis.01.The gene-editing company Beam Therapeutics is alleging that one of its scientists stole intellectual property and used it to co-found a Chinese company that made a deal with VC firms. The allegation comes at a time of escalating tensions between American biotech companies and their Chinese counterparts. Beam, which is based in Cambridge, Mass., filed a lawsuit late last week accusing one of its former scientists, Zi Jun “Emma” Wang, of accessing the company’s electronic laboratory notebooks late at night and on weekends, then using the information she gleaned there to start a company called YolTech Therapeutics. YolTech, which is based in Shanghai, recently made a deal with VC firms RA Capital and RTW to form a new startup called Serapha Bio. Both YolTech and Serapha are named as defendants in the case. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+. Already have an account? Log in View All Plans To read the rest of this story subscribe to STAT+. Subscribe