Biotech Company Alleges Ex-CEO Undermined Company

On Friday a case was filed in the Middle District of Florida by Hemostemix Inc. regarding a business partnership that the plaintiff terms an enterprise under the Racketeer Influenced and Corrupt Organizations Act (RICO); the partnership was allegedly focused on damaging and impairing the Hemostemix corporation by stealing intellectual property, wire fraud, and extortion.

The suit was filed against Kyle Mkofka, Jed Wood, Blake Wood, Rando Wood, Alan Jacobs, MD, Reginald  Cooper, Kingsman Scientific Management Inc., Aspira Global Services LLC, and Ajia Global Services, LLC.

The complaint explained that Hemostemix is a biotechnology corporation focused on blood derived therapies. Defendant Makofka was employed by Hemostemix as Chief Restructuing Officer and then as President and Chief Executive Officer. Hemostemix alleges that the defendant failed at all of these positions deliberately as he had founded a RICO enterprise with the other defendants with the intent of creating a hostile takeover.

Hemostemix alleges that in the course of his role at the company. Makofka obtained access to several intellectual properties, which he then proceeded “hold hostage” and use as leverage to force Hemostemix to make several disadvantageous actions including refinancing through one of the defendants as well as other actions. Hemostemix alleges that the defendants actions included fraud, predatory and commercial unreasonable loans and other funding arrangements, self-dealing, wire fraud, extortion, theft and misappropriation of assets, and tortious interference with contractual relationships.

The plaintiff is suing for civil RICO damages, fraud, RICO conspiracy, violation of the defend trade secrets act, violation of the Florida Uniform Trade Secrets act, breach of contract, conversion, replevin, and violation of  Computer Fraud and abuse act. The plaintiffs are represented by DLA Piper LLP.