The Delaware Court of Chancery has dismissed a potentially $300 million lawsuit against one of Europe’s largest research organizations, finding that a former partner waited too long to press claims that the company had tried to steal its trade secrets.

Vice Chancellor Tamika Montgomery-Reeves said Monday that Newark-based biotech firm iBio Inc. had filed its suit against Fraunhofer-Gesellschaft zur Förderung der Angewandten Forschung outside of the three-year statute of limitations. In an 18-page memorandum opinion, Montgomery-Reeves said that iBio was aware of its claims against FhG, a German nonprofit in the field of applied research, as early as June 2014, but waited until last November to file its complaint.

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