NEW YORK (GenomeWeb News) – Rosetta Genomics today said it has received full payment from Sanra Laboratories to settle a dispute over Sanra's purchase of Parkway Clinical Laboratories from Rosetta in 2009.
Sanra paid Rosetta $625,000 as part of the settlement announced last month between the firms. Under the terms of the agreement, Sanra agreed to pay Rosetta $625,000 on top of all other payments it has paid Rosetta "for total consideration of all their obligations." Sanra previously paid Rosetta $10,000 up front.
Rosetta sold Parkway to Sanra for up to $2.5 million, to be paid as a fixed percentage from revenues during a six-year period. Rosetta had acquired Parkway the year before it sold the business to Sanra.