BRIEF—Ohio Supreme Court dismisses CRG petition against Navidea

US biotech firm Navidea Biopharmaceuticals says that the Ohio Supreme Court has dismissed a petition filed by Capital Royalty Partners II and affiliated entities (CRG).

On August 27, 2018, CRG filed a petition with the Ohio Supreme Court seeking a Writ of Prohibition against the Mark Serrott asserting that Judge Serrott's refusal to dismiss Navidea Biopharmaceuticals' pending Ohio litigation against CRG was improper and that Judge Serrott lacked jurisdiction over CRG with respect to the case issues.

Judge Serrott filed a motion to dismiss the petition on September 18, 2018 asserting that his actions were proper and within the bounds permitted by law.

Navidea also sought to intervene in the matter and also asserted that Judge Serrott acted properly in finding he had jurisdiction over CRG.

The Ohio Supreme Court issued its decision without an opinion on January 23, 2019, dismissing CRG's petition.

With this dismissal, the path is now clear for a resumption of Navidea's Ohio litigation against CRG.

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.