{"id":8121,"date":"2024-03-05T13:31:42","date_gmt":"2024-03-05T05:31:42","guid":{"rendered":"https:\/\/flcube.com\/?p=8121"},"modified":"2024-10-20T13:34:07","modified_gmt":"2024-10-20T05:34:07","slug":"nuance-pharma-wins-arbitration-rescinds-licensing-deal-with-antibe-therapeutics","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=8121","title":{"rendered":"Nuance Pharma Wins Arbitration, Rescinds Licensing Deal with Antibe Therapeutics"},"content":{"rendered":"\n

Nuance Pharma, a China-based pharmaceutical company, has received a favorable arbitration verdict from a Singapore arbitration court in a dispute with Canada\u2019s Antibe Therapeutics (OTCMKTS: ATBPF<\/a>). The arbitration centered on a February 2021 agreement where Nuance acquired development and commercial rights for Antibe\u2019s otenaproxesul (ATB-346), an innovative pain relief drug designed to reduce ulcer risks associated with long-term non-steroidal anti-inflammatory drugs (NSAIDs), in China and the Asia-Pacific region.<\/p>\n\n\n\n

After an initial payment of USD 20 million as part of a deal valued up to USD 80 million, Nuance discovered significant risks of transaminase elevations associated with otenaproxesul. Nuance alleged that Antibe failed to disclose these safety issues, constituting a breach of the agreement. The case was brought to the Singapore International Arbitration Centre, which has now ruled to rescind the license deal, with Antibe required to return the upfront fee of USD 20 million plus USD 4 million in costs.<\/p>\n\n\n\n

Antibe\u2019s press release characterized the outcome as \u201cunexpected\u201d and \u201chighly unusual based on best practices for licensing deals in the biotech industry.\u201d Despite the setback, Antibe stated that it remains on schedule to initiate a Phase II trial for otenaproxesul later this year.- Flcube.com<\/a><\/p>\n\n\n\n

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