Hsinchu, Taiwan, July 9th, 2021 – Earlier this week, the United States Department of Justice announced that it has filed criminal charges against Racho Jordanov and Rose Lin, former employees of JHL Biotech (the predecessor to Eden Biologics), relating to alleged theft of trade secrets from Genentech. At the same time, the Department of Justice announced that it had previously entered into a non-prosecution agreement with Eden Biologics regarding its investigation. As a result of the non-prosecution agreement, Eden Biologics is not subject to prosecution for the matters raised in the investigation. The non-prosecution agreement follows Eden Biologics’ announcement in September 2019 that it had reached a settlement agreement with Genentech to resolve all of Genentech’s civil claims.
“Eden Biologics has been cooperating fully with the Department of Justice in its investigation for several years, and we are pleased that the Department of Justice formally agreed that the company will not face criminal prosecution in this matter,” commented Eden Biologics Executive Chairman and Acting CEO, James Huang. These resolutions allow Eden Biologics to continue its relentless focus on delivering high-quality and affordable biosimilar medicines to patients in need and expanding its global CDMO business.
About Eden Biologics, Inc.
Eden Biologics is a biopharmaceutical company established in 2012 and after a transformation under new executive leadership led by James Huang, Chairman and CEO (also Managing Director of KPCB China), Eden continues to focus on three biotech sectors: 1) Accelerating the development programs for clients through the provision of Contract Development and Manufacturing Services (from cell line development to commercial manufacturing with regulatory filing support; 2) Developing a Proprietary Biosimilar Pipeline; and 3) Collaborating & Licensing of New and Innovative Biologics.
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