Skip to main content
Premium Trial:

Request an Annual Quote

Med BioGene Shareholders Approve Commercialization Deal with Precision Therapeutics

By a GenomeWeb Staff Reporter

NEW YORK (GenomeWeb News) – Med BioGene today said that its shareholders have approved its commercialization partnership with Precision Therapeutics.

The partnership is for Med BioGene's LungExpress Dx. Under the terms of the deal, agreed to by the two companies last month, Precision will pay Med BioGene $2.3 million in licensing fees and research reimbursements within 120 days of the deal's closing. Med BioGene is also eligible for royalty payments.

The deal was reached following competing bids made by Precision and Signal Genetics for the gene expression-based test. LungExpress Dx has been developed 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 technology is at the center of a lawsuit filed by Signal Genetics against Med BioGene and Precision, saying it had been in negotiations with Med BioGene for LungExpress Dx before Med BioGene licensed the test to Precision. Signal Genetics accused Med BioGene of fraud and Precision Therapeutics of tortious interference.

In a statement today, Med BioGene CEO Erinn Broshko said, "We are very pleased with the overwhelming support of our shareholders in approving our partnership with Precision Therapeutics. We are moving quickly towards closing the transaction and working with Precision to commercialize LungExpress Dx."

The Scan

Myotonic Dystrophy Repeat Detected in Family Genome Sequencing Analysis

While sequencing individuals from a multi-generation family, researchers identified a myotonic dystrophy type 2-related short tandem repeat in the European Journal of Human Genetics.

TB Resistance Insights Gleaned From Genome Sequence, Antimicrobial Response Assays

Researchers in PLOS Biology explore M. tuberculosis resistance with a combination of sequencing and assays looking at the minimum inhibitory concentrations of 13 drugs.

Mendelian Disease Genes Prioritized Using Tissue-Specific Expression Clues

Mendelian gene candidates could be flagged for further functional analyses based on tissue-specific transcriptome and proteome profiles, a new Journal of Human Genetics paper says.

Single-Cell Sequencing Points to Embryo Mosaicism

Mosaicism may affect preimplantation genetic tests for aneuploidy, a single-cell sequencing-based analysis of almost three dozen embryos in PLOS Genetics finds.