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Signal Genetics Drops Legal Action against Med BioGene, Precision Therapeutics

NEW YORK (GenomeWeb News) – Signal Genetics and its subsidiary Respira Health have withdrawn and dismissed their lawsuit against Med BioGene and its commercial partner Precision Therapeutics.

The lawsuit, which was filed nearly three years ago, was dismissed with prejudice, Med BioGene said today, and follows a settlement announced during the summer among the parties. At the time, Med BioGene said that Precision would make a payment of an undisclosed amount to Signal Genetics and Respira on or before Jan. 6, after which those firms would dismiss and withdraw their legal claims against Med BioGene and Precision.

Signal Genetics and Respira filed their lawsuit 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.