NEW YORK (GenomeWeb News) – Med BioGene today said that it and its commercial partner, Precision Therapeutics, have settled litigation with Signal Genetics and its Respira Health subsidiary, ending a dispute over an alleged breach of contract that began more than two years ago.
Under the terms of the agreement announced today, Precision will make an undisclosed payment to Signal Genetics and Respira on or by Jan. 6, 2014. Following the payment, Signal Genetics and Respira will dismiss and withdraw all of their legal claims made against Med BioGene and Precision.
Signal Genetics and Respira filed their suit in February 2011 alleging a breach of agreement, violation of a confidentiality agreement, and misuse of proprietary information, among other charges. They filed the action after Med BioGene allegedly backed out of a 10-year, exclusive worldwide agreement that would have given Signal Genetics and Respira rights to Med BioGene's LungExpress Dx technology.
Vancouver, British Columbia-based Med BioGene subsequently inked a commercialization partnership with Precision for the LungExpress Dx, a gene expression-based test to identify patients with early-stage non-small-cell lung cancer, who following surgical removal of their tumors, are at higher or lower risks of mortality.
The test has since been renamed GeneFx Lung.