KBP Biosciences Pte Ltd has announced that the Singapore International Commercial Court has upheld a temporary injunction against the company and its founder, Dr Huang Zhenhua, in support of arbitration proceedings initiated by both KBP and Novo Nordisk. The court’s decision means that the validity of Novo Nordisk’s injunction application will now be determined through arbitration, which KBP had initiated prior to Novo Nordisk’s involvement.
The court’s judgement delved into critical issues at the heart of the dispute, including the conduct of clinical trials and the adequacy of due diligence. Notably, the court referenced independent testimony from steering committee members Dr Bertram Pitt and Dr Janet Wittes, who stated in an open letter that neither party had provided convincing evidence of fraudulent results from the Bulgaria site. This letter was not available during the previous ex parte hearing.
Furthermore, the judgement highlighted statistical errors in Novo Nordisk’s termination of clinical trials for Ocedurenone, a drug acquired from KBP. Parexel International IRL Ltd later informed Novo Nordisk of these errors, suggesting that the drug still met one of the futility criteria and could be worth continuing development.
KBP contends that Novo Nordisk failed to disclose critical information during due diligence, despite having access to comprehensive data from KBP. Dr Huang Zhenhua expressed KBP’s commitment to proving Ocedurenone’s potential benefits to the tribunal, stating, “KBP believes that Novo Nordisk erred in stopping the development of Ocedurenone because it could help patients.”
KBP remains dedicated to advancing Ocedurenone’s development and is prepared to engage with new management to explore future possibilities, whilst also pursuing all legal avenues, including a potential appeal against the court’s decision.
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