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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER