<p align= justify >On Wednesday, July 9th 2008, Rockville-based Emergent BioSolutions Inc. has filed lawsuit in New York State Supreme Court against Protein Sciences Corp., a Meriden, Connecticut based company that uses DNA technology to manufacture vaccines, after its planned to acquire Protein Sciences Corp. in May 2008. Emergent BioSolutions Inc. alleges that Protein Sciences engaged in fraudulent conduct and breached the terms of its asset purchase agreements. Emergent BioSolutions Inc. claims that was duped into giving a $10 million loan to the Protein Sciences Corp. through false claims that a sale would take place. Protein Sciences Corp. says these allegations are ridiculous.<br />Rockville-based Emergent accuses that Protein Sciences Corp. executive have given assurances that they push forward with board and shareholder approvals on a planned $78 million acquisition. While in reality their only efforts was to receive a $10 million bridge loan from Emergent to pay overdue bills. Emergent says Protein Sciences did not even hold a shareholders meeting to discuss the $78 million acquisition offer. While Protein Sciences Group officials say: ‘‘The shareholders meeting was delayed at Emergent’s request because Emergent saw all the shareholders were going to vote against it”.<br />Emergent BioSolutions Inc. is claiming unfair business practices, deception and fraud, and filed the lawsuit against Protein Sciences Corp. and two of its executives, CEO Daniel Adams and Chief Operating Officer Manon Cox, for $13 millions plus interest, punitive damages and assurances that Protein Sciences does not use the loan money for any other purposes than for which it was designed.<br />According to the complaint “In reality, the defendants’ plan was to use Emergent’s funds to sustain PSC’s operations while defendants sought out alternatives that would enable PSC to survive as an independent company with Adams and Cox at the helm,”<br />Chief Operating Officer Manon Cox said that she “thought there were better opportunities” and that based on “market research” and analyst feedback that the $78 million price was too low.<br />Protein Sciences Group has 20 days from Wednesday to file its response to Emergent BioSolutions Inc.’s lawsuit.</p>