The Supreme Court of Ohio has dismissed a petition filed by Capital Royalty Partners against radiopharmaceutical developer Navidea Biopharmaceuticals.
The suit springs from a dispute between Navidea and Capital Royalty, which had issued a $60 million loan to Navidea. Capital Royalty in 2016 claimed that Navidea was in default on the loan, a claim that Navidea denied.
Capital Royalty filed the petition on August 27, 2018, after a judge refused to dismiss Navidea's pending litigation against the company. The judge filed a motion to dismiss the petition on September 18; on January 23, 2019, the Supreme Court of Ohio did dismiss the petition, which will allow Navidea to proceed with its suit against Capital Royalty Partners, Navidea said.