The Petition was filed by Iain Weir-Jones, Elizabeth Anne Weir-Jones, Graeme May and Tracy May and made claims against MBI relating to, among other things: the adoption of the Advance Notice Policy by the board of directors of MBI in advance of the annual and special meeting of MBI shareholders held on May 17, 2013 (the "Meeting"); MBI's subsequent rejection, for failure to comply with the requirements of the Advance Notice Policy, of a notice of intention submitted to MBI by Mr. Weir-Jones to nominate himself and another person at the Meeting for election as directors of MBI; and decisions made at the Meeting by the chairman.

The dissident shareholders were seeking from the Court, among other things, an order convening a new annual general meeting of MBI and allowing the dissident shareholders to nominate persons for election as directors of the company.

Erinn B. Broshko, Executive Chairman of MBI commented: "The board of directors of MBI takes its corporate governance responsibilities very seriously and adopted the Advance Notice Policy as a matter of good corporate governance to provide shareholders, directors and management of MBI with a clear framework for nominating directors of MBI at a shareholders' meeting. We are pleased to have put this matter behind MBI so that we can focus on the expected launch of GeneFx Lung and highlight the clinical and commercial potential of our test."

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® Lung. MBI's common shares are listed for trading on the TSX Venture Exchange.