A Diagnostics & Imaging Week

deCODE genetics (Reykjavik, Iceland) said it has reached a favorable settlement of its litigation in Federal District Court in Philadelphia with the Children's Hospital of Philadelphia (CHOP) and several former deCODE employees who left the company to work for CHOP.

The parties will exchange mutual releases and the litigation will be dismissed with prejudice, the company reported. The litigation was settled with an agreement under which CHOP and the individual defendants have certain obligations toward decode, though those obligations were not disclosed.