GTG settles another DNA patent suit
In a one-two punch, Genetic Technologies (ASX:GTG) has signed yet another settlement agreement in its legal bid to force US gene screening companies to license its non-coding DNA patents.
The company revealed it has executed a settlement agreement with the Virginia-based Genetics & IVF Institute. GTG filed a lawsuit against the company in late 2012.
The announcement came one day after GTG revealed it had signed a settlement and licensing agreement with Wisconsin’s PreventionGenetics - another company it had sued in late 2012.
These lawsuits were the latest in a line of legal efforts to push companies to take out a licence to GTG’s non-coding DNA patents.
GTG’s patent portfolio covers genetic markers used in the company’s BREVAGen breast cancer risk assessment screening process.
Genetic Technologies shares were trading 2.56% lower at $0.076 as of around 2.30 pm on Tuesday.
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