Proteomics biotech SomaLogic and the co-founder of a company it bought last year are suing each other in separate court battles playing out in Colorado and California.
The cases revolve around the employment of Ashwin Gopinath, a co-founder of Palamedrix, which was bought by SomaLogic a year ago in a $35 million deal, including $14 million in cash and $21 million in SomaLogic stock. The companies had also agreed on an additional $17.5 million in milestone considerations to the three Palamedrix founders, setting deadlines in 2027 and 2028 for certain sales-based milestones.
Gopinath joined SomaLogic as senior director of assay development, and his compensation package included more than $1.6 million in cash and more than 76,000 shares of the biotech’s stock when he started. His total stock compensation of 456,286 shares…
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