MBI Med Biogene Inc

Med BioGene Inc. (TSX VENTURE:MBI) today announced that, pursuant to a
previously announced settlement agreement among MBI, its commercial partner,
Precision Therapeutics, Inc., Signal Genetics LLC and Respira Health LLC, Signal
and Respira have dismissed and withdrawn with prejudice their legal claims made
against MBI and Precision in the Supreme Court of the State of New York. 


The terms of the settlement are confidential. As part of MBI and Precision's
commercialization agreement, Precision is solely responsible for all financial
obligations under the settlement agreement.


About Med BioGene 

MBI is a life science company based in Vancouver, British Columbia that is
currently focused on managing the license and rights to GeneFx(R) Lung. MBI's
common shares are listed for trading on the TSX Venture Exchange.  


For more information on MBI, please visit www.medbiogene.com.

About GeneFx(R) Lung 

GeneFx Lung is a proprietary gene expression-based test to improve upon staging
for identifying those patients with early-stage non-small-cell lung cancer
(NSCLC) who, following surgical removal of their tumor, are at higher and lower
risks of mortality. In an initial study of patient specimens from the National
Cancer Institute of Canada Clinical Trials Group JBR.10 trial, published in the
Journal of Clinical Oncology, patients classified by GeneFx Lung as higher risk
benefited from adjuvant chemotherapy, and those classified as lower risk did not
benefit and may have experienced a detrimental effect from adjuvant
chemotherapy. GeneFx Lung was subsequently validated in predicting patient
mortality in four independent studies involving data from tumor specimens
totaling 676 untreated early-stage NSCLC patients. GeneFx Lung is expected to
provide better-informed and personalized treatment decisions to assist in the
selection of patients for adjuvant chemotherapy. 


On April 15, 2011, MBI and Precision Therapeutics, Inc. closed their
commercialization, license and research reimbursement agreement. The agreement
provides to Precision exclusive global rights to develop and commercialize
GeneFx Lung.


About Precision Therapeutics 

Precision, a leading life science company based in Pittsburgh, Pennsylvania, is
dedicated to improving the outcomes of cancer patients by providing personalized
medicine solutions that aim to increase quality of life and cancer survival
rates. Precision offers a portfolio of products developed to help guide
physicians and patients with difficult clinical decisions throughout the
continuum of cancer care.  


Precision currently markets a number of tests through its CLIA-certified
laboratory, including ChemoFx(R), BioSpeciFx(R), GeneFx(R) Colon and
miRview(R)mets2.  


For more information on Precision, please visit www.precisiontherapeutics.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.


Certain statements in this press release contain forward-looking statements and
information ("forward-looking statements") under applicable United States and
Canadian securities legislation. Words such as "anticipates," "believes,"
"estimates," "expects," "intends," "may," "plans," "projects," "will," "would"
and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words.
Forward looking statements include, but are not limited to, that with respect to
the timing, completion and/or results of clinical trials or studies, the timing
for commercialization of any products, future profits, future product revenues,
future shareholder value, future operations and plans, the completion and use of
proceeds from transactions or financings and the prospects for negotiating
partnerships or collaborations and their timing. These forward-looking
statements are only a prediction based upon the party's current expectations,
and actual events or results may differ materially. A party may not actually
achieve the plans, intentions or expectations disclosed in its forward-looking
statements. Forward-looking statements are subject to known and unknown risks
and uncertainties and are based on uncertain assumptions that could cause a
party's actual results and the timing of events to differ materially from those
anticipated in such forward-looking information. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. A party's forward-looking statements do not reflect
the potential impact of any future partnerships, collaborations, acquisitions,
mergers, dispositions, joint ventures or investments that that party may make.
All forward-looking statements are qualified in their entirety by this
cautionary statement and a party undertakes no obligation to revise or update
any forward-looking statements as a result of new information, future events or
otherwise after the date of this press release, other than as required by
applicable law. Certain information included in this press release in respect of
Precision and its scientific, clinical and/ or commercialization efforts have
been provided to MBI by Precision. MBI may not have been able to confirm the
accuracy of such information and you should not place undue reliance on any such
information, including any information regarding Precision that would constitute
forward-looking information. A redacted copy of the commercialization agreement,
as amended, between Precision and MBI may be found at www.sedar.com. Each
trademark, trade name or service mark of any entity appearing in this news
release belongs to its holder.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Med BioGene Inc.
Erinn B. Broshko
Executive Chairman
(800) 641-3593
ebroshko@medbiogene.com

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