Innovation 411, the centerpiece of King of Prussia’s Discovery Labs campus, is now at the center of a legal standoff, writes John George for the Philadelphia Business Journal.
Owner MLP Ventures has filed a civil suit in Montgomery County Court against its largest tenant, the Center for Breakthrough Medicines (CBM), and CBM’s majority owner, South Korea’s SK Inc.
The filing cites a landlord–tenant dispute and seeks more than $50,000 in damages.
MLP Ventures founder Brian O’Neill declined to discuss details but said settlement talks are ongoing. The dispute surfaces as O’Neill pursues a $1 billion refinancing package to pay over 30 contractors owed nearly $100 million for work on Innovation 411 between 2023 and 2025.
The 1-million-square-foot complex on Swedeland Road was once a GlaxoSmithKline research site. It anchors Discovery Labs’ growing life sciences footprint in Montgomery County. MLP and Beach Point Capital bought the property in 2018 for $54 million. O’Neill later acquired full ownership in 2020.
Several lawsuits from contractors have already shadowed the project, but O’Neill insists all will be paid once the refinancing is finalized. “We’re not interfering with any claims,” he said. “We want them to secure their claims.”
To learn more about the case, visit Philadelphia Business Journal.
