From legal papers Antibe has had both ups and downs, in terms of the development and trial results for Otenaproxesul. It ran into complications in the development and approval of the Drug in September of 2021, leading to Nuance rescinding the license agreement and demanding the immediate return of its U.S. $20 million investment.
Antibe did not return the $20 million, leading to the arbitration, leading to the arbitral award dated February 27, 2024, that Nuance seeks to enforce.
While it has not sought to overturn or appeal the arbitral award in court, Antibe maintains the position that certain aspects of the award were incorrect or inaccurate.
Nuance takes the position that, given the findings in the arbitral award, and the arbitral panel's finding that the license agreement was rescinded based on fraudulent misrepresentations on the part of Antibe, its interest in the U.S. $20 million is proprietary. Subject to developments over the next 10 days, counsel for Nuance has advised that his client expects to be pressing that position (and presumably its competing claim to appoint a receiver), when this matter is next before the court.