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Biotech / Medical : DECODE GENETICS-*DCGN

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To: carranza2 who wrote (275)	6/15/2007 12:32:33 PM
From: nigel bates	Read Replies (1) of 313

deCODE Announces Settlement of Lawsuit Thursday June 14, 4:40 pm ET REYKJAVIK, Iceland, June 14 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq: DCGN - News) today announced that 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. Pursuant to the agreement, the parties will exchange mutual releases and the litigation will be dismissed with prejudice. The litigation was settled with an agreement under which CHOP and the individual defendants have certain obligations towards deCODE. deCODE's CEO Dr. Kari Stefansson commented on the settlement as follows: "I am pleased that we have managed to settle this case with the Children's Hospital of Philadelphia, which has a history of being a noble institution that serves its community with distinction."

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