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Beam Therapeutics alleges Chinese biotech, VC-backed startup stole IP
STAT • • business
Key Points:
- Beam Therapeutics has filed a lawsuit accusing former scientist Zi Jun “Emma” Wang of stealing intellectual property by accessing electronic laboratory notebooks outside work hours.
- Wang allegedly used the stolen information to co-found YolTech Therapeutics, a Chinese company.
- YolTech Therapeutics has reportedly secured deals with venture capital firms.
- The lawsuit highlights growing tensions between American biotech firms and their Chinese counterparts.
- Beam Therapeutics is based in Cambridge, Massachusetts, and the allegations were made public late last week.
