Karus's solicitor Michael Foster said: "Mr Karus does not wish to comment.
In addition, Karus signed a co-development agreement with EOS SpA (Milan, Italy) to discover and develop new oncology drugs.
Under the terms of the agreement, the team will further interrogate the mechanism by which Karus Therapeutics' PI3K-p110 beta and PI3K-p110 delta inhibitors impact on neutrophil function and immune responses, with the aim of developing more effective treatments for inflammatory diseases such as rheumatoid arthritis.
And another firm of lenders owed PS400,000 by Karus are trying to get their hands on assets they believe he has stashed in Panama.
We are looking to expand the system with Karus who have been a great company to work with.
The molecules designed at Karus display high potency and specificity for these enzymes, and exert oral activity in preclinical models of inflammatory disease.
Karus lost his law licence two years ago after being found guilty of misconduct
Karus and his wife, Mary, own a string of businesses in Edinburgh.
In court, Karus was described as a dad-of-one who had recently been through a bitter divorce.
Scott Moody and Karus were to have graduated on Sunday afternoon from Riverside High School in nearby De Graff, the sheriff's office said.
Lawyer Michael Karus and his wife Mary own Blair Street and a sister operation in Dundas Street.
Inc, Haptogen Ltd, hemoCORM Ltd, Karus Therapeutics, Lymphosign Inc.