Xenomics, Sequenom To Arbitrate $300M Contract Spat

Law360, New York (May 6, 2010, 1:47 PM EDT) -- Embattled biotech company Sequenom Inc. has won the dismissal of a $300 million breach of contract suit brought by Xenomics Inc., paving the way for arbitration of Xenomics' claims that Sequenom fraudulently convinced it to license three patents for Down syndrome testing.

The 2008 licensing agreement compels the parties to arbitrate disputes, and Sequenom has not waived that right, Judge Richard M. Berman of the U.S. District Court for the Southern District of New York said in an order Tuesday.

The suit dates back to October,...
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