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Rules Based Medicine to Pay Luminex $12.5M to Settle Lawsuit

NEW YORK (GenomeWeb News) — Rules Based Medicine will pay Luminex $12.5 million to settle a law suit having to do with Biophysical Corporation’s testing services, Luminex said today.
 
RBM, which was spun off from Luminex in September 2002, initially filed the claims in a Travis County, Texas District Court in 2005, but Luminex soon afterward responded with its own counterclaims.
  
The settlement, which formally dismisses the lawsuit, includes the retirement of Luminex’s ownership of RBM stock and “the grant of certain additional licensing rights,” Luminex said.
 
All other terms of the agreement are confidential, Luminex said.

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