Navidea Biopharmaceuticals, CRG Settle All Ongoing Litigation

(RTTNews) - Navidea Biopharmaceuticals, Inc. announced the company and Capital Royalty Partners II, L.P. and other related entities have entered into a binding settlement agreement and mutual release settling all ongoing litigation between the parties. To provide the funding necessary for the CRG settlement, Navidea entered into a Loan and Securities Exchange agreement pursuant to which John Scott, Jr., Vice Chair of the Board, loaned Navidea Biopharma $750 thousand with a maturity date of April 10, 2025.

Navidea and CRG have been engaged in ongoing litigation since 2016. On August 30, 2022, a judgment was entered against Navidea. As of September 30, 2023, the contingent liability for the judgment and accrued interest was $2.71 million.

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