A Medical Device Daily

Luminex (Austin, Texas) said it has settled its pending litigation with Rules-Based Medicine (RBM; Austin, Texas), a 2002 spin-off of the company.

RBM paid Luminex $12.5 million in cash to resolve a dispute regarding Biophysical (Austin, Texas) as well as the retirement of Luminex's stock ownership in RBM and the grant of certain licensing rights from Luminex.

Other terms of the settlement were not disclosed. The lawsuit, which was filed in 2005 over a licensing dispute, will be dismissed.

Last week, RBM received $1.1 million from the National Cancer Institute for cancer research (Medical Device Daily, Oct. 11, 2007). The firm also acquired Experimentelle and Diagnostische Immunologie (Reutlingen, Germany) for an undisclosed amount.

RBM tests the effectiveness of drugs in the body's system and develops sensitive diagnosis procedures.