Med BioGene Inc. (MBI) is a life science company. The Company focuses on the development and commercialization of genomic-based clinical laboratory diagnostic tests for cancer that improves upon staging for identifying those patients who, following surgical removal of their tumor, are at a higher and lower risk of mortality to assist in selecting patients who may benefit from adjuvant chemotherapy. The Company�s product under development is LungExpress Dx, a test for early-stage non-small-cell lung cancer. On April 15, 2011, the Company closed a commercialization, license and research reimbursement agreement (Commercialization Agreement) with Precision Therapeutics, Inc. (Precision). The agreement provides Precision with the exclusive global rights to develop and commercialize LungExpress Dx. Subsequent to the closing of the Commercialization Agreement, MBI focuses on managing the license and rights to LungExpress Dx granted to Precision under the Commercialization Agreement.