Krish Krishnan, Krystal Biotech CEO

Der­ma­tol­ogy biotech Krys­tal set­tles law­suit from for­mer part­ner as it pre­pares first FDA pitch

Krys­tal Biotech’s le­gal trou­bles with a small part­ner are over.

The Pitts­burgh com­pa­ny set­tled its trade se­crets dis­pute with Pe­ripha­Gen on Tues­day, agree­ing to pay $25 mil­lion with­in 10 days of a fi­nal agree­ment and up to four ad­di­tion­al pay­ments of $12.5 mil­lion each de­pend­ing on cer­tain prod­uct mile­stones. Krys­tal ad­mit­ted no wrong­do­ing as part of the set­tle­ment.

Ad­di­tion­al­ly, all claims against Krys­tal ex­ecs Kr­ish Kr­ish­nan and Suma Kr­ish­nan were dis­missed, as well as coun­ter­claims made against Pe­ripha­Gen and its ex­ecs, James Wechuck and David Krisky.

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