Christopher Barry, a former vice president of R&D at drug-coated balloon catheter manufacturer Lutonix, Inc. (now a part of C.R. Bard), pled guilty to felony charges of stealing trade secrets from the company. The Department of Justice (DOJ) announced the guilty plea on Tuesday. The case came to light following an investigation by the FBI, the criminal investigation division of the IRS and the United States Postal Inspection Service.
At Lutonix Barry was responsible for R&D, quality assurance and manufacturing for the company and was directly involved in the development of the company’s drug-coated balloon, which the DOJ called “an extremely valuable proprietary DBC” in its announcement of Barry’s plea. He served in his role at Lutonix from 2007 until May 2015. Barry left Lutonix to serve as CEO of start-up Urotronic, which was also founded by a former Lutonix employee.
“As Barry was planning to leave Lutonix, he stole numerous trade secret files belonging to the company so that he could utilize the proprietary information in connection with his next job. During his employment with Urotronic, Barry transferred the stolen trade secret files from his portable hard drive onto his Urotronic work computer.” – Department of Justice release
Barry, 46, was convicted on 1 count of theft of trade secrets.