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Genetic Technologies reaches settlement agreement with Genesis Genetics

Genetic Technologies disclosed it has executed a Settlement and Release Agreement with Genesis Genetics Institute. In late 2012, Genetic Technologies reported that it had filed suit against Genesis Genetics Institute in the United States District Court for the Eastern District of Michigan. Given the parties have now reached a final settlement, such legal action against Genesis Genetics Institute will now be dismissed. The commercial terms of the agreement are covered by confidentiality provisions and cannot be disclosed. The settlement was achieved as a result of GTG’s continuing patent monetization efforts in the U.S. and other jurisdictions, it added.