LAWSUITS NEWS & LEGAL INFORMATION
Diagnosis Licensing Breach
Austin, TX: (Oct-15-07) Luminex Corp. brought a lawsuit against Rules-Based Medicine Inc., a company that tests the effectiveness of drugs in the body's system and develops sensitive diagnosis procedures, alleging that there was a breach in licensing procedures. Rules-Based Medicine developed a technique to diagnose hundreds of biological traits from a drop of blood, while other labs need several vials of fluid to determine only a few dozens ailments.
As part of a settlement reached, Rules-Based Medicine, a 2002 spinoff of Luminex, agreed to pay $12.5 million to Luminex Corp. ending the dispute. Recently, Rules-Based Medicine received $1.1 million from the National Cancer Institute to help fund the development of cancer research. The firm also acquired a German biotechnology company, Experimentelle and Diagnostische Immunologie for an undisclosed amount. [AUSTIN BUSINESS JOURNAL: LICESING BREACH]
Published on Oct-16-07
As part of a settlement reached, Rules-Based Medicine, a 2002 spinoff of Luminex, agreed to pay $12.5 million to Luminex Corp. ending the dispute. Recently, Rules-Based Medicine received $1.1 million from the National Cancer Institute to help fund the development of cancer research. The firm also acquired a German biotechnology company, Experimentelle and Diagnostische Immunologie for an undisclosed amount. [AUSTIN BUSINESS JOURNAL: LICESING BREACH]
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