Brickell Biotech to enter arbitration in federal court case after investor suspends payments
BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) has lost a major funding stream after a Florida company sued it for alleged bad-faith practices.
In filings with the U.S. Securities and Exchange Commission, the Boulder-based dermatology company said one of its backers, North Carolina investment fund NovaQuest Capital Management LLC, suspended its payments after Miami-based Bodor Labs Inc. filed suit against Brickell late last week. NovaQuest will resume payments if the lawsuit is dropped within a year.
Brickell also said the loss of funding could impact its Phase III clinical trials for Sofpironium
Bromide, an…
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