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Signal Genetics Adds Precision Therapeutics to Suit

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Signal Genetics has filed an amended lawsuit against Med BioGene, adding Precision Therapeutics as a defendant in a case it brought earlier this month to the Supreme Court for the County of New York.

Signal has accused Vancouver, British Columbia-based Med BioGene with fraud and Pittsburgh-based Precision Therapeutics with tortious interference in the amended complaint filed yesterday.

Signal filed the initial suit earlier this month alleging a breach of agreement, violation of a confidentiality agreement, and misuse of proprietary information, among other charges. New York City-based Signal said that its suit stems from Med BioGene allegedly breaching an agreement to provide Signal with "a not less than ten-year exclusive, worldwide license to use MBI's LungExpress Dx technology."

The amended complaint alleges that Med Biogene used "a false promise of granting a license to Signal to induce Signal to provide Med Biogene with confidential information, which Med Biogene then provided to Precision Therapeutics."

According to Signal, it had advised Med BioGene that it was working with a specific marketing company to commercialize the LungExpress technology, and that Precision Therapeutics contacted that unnamed marketing firm to advise it that Precision Therapeutics was going to acquire rights to the technology. Signal also alleges that Precision Therapeutics gauged the marketer's interest in commercializing the technology on its behalf.

Signal is seeking a judgment that requires Med BioGene to grant Signal an exclusive, worldwide license to use the technology on terms set forth in the parties’ term sheet, damages against Med Biogene and Precision Therapeutics in an amount to be determined, and further relief.

Med BioGene previously said that it "believes the claim is frivolous, vexatious and entirely without merit and intends to defend it vigorously."

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