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| Alkeus Executive Chairman Josh Boger |
Boston-based Alkeus Pharmaceuticals might be a cautionary tale for other virtual biotechs, which have sprung up lately amid troublesome economic times of scarce capital.
The 4-year-old startup is being sued by Irish drugmaker Alkermes ($ALKS) for trademark infringement. According to the Boston Business Journal, the 25-year-old Alkermes filed the lawsuit on May 27, alleging that the smaller company's name could easily be mistaken for that of the more established developer of central nervous system disorder drugs.
Alkeus, which specializes in the treatment of eye disorders, boasts Vertex Pharmaceuticals ($VRTX) founder Josh Boger as its executive chairman.
In the lawsuit, Alkermes--which is listed on the Nasdaq under the symbol "ALKS"--says Alkeus has adopted the convention "ALK" followed by a number in relation to pharmaceutical product research, which is similar to the "ALKS" it uses as a naming device for its drug candidates.
The Irish drugmaker, which is incorporated in Pennsylvania, added that because the pharma industry is highly competitive, "it is critical that Alkermes protect its trade names, trademark, and service mark and police against any confusingly similar uses by others."
Alkeus' website lists only two other members on its executive and leadership team, President and CEO Leonide Saad and Scientific Founder Ilyas Washington.
In October, the young biotech won an FDA grant for a Phase 1 study of ALK001 for the treatment of Stargardt disease, the most common form of inherited juvenile macular degeneration.
- read more from the Boston Business Journal
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