RARITAN, N.J., June 11 /PRNewswire-FirstCall/ -- Veridex, LLC announced today that it has signed an asset purchase agreement to acquire substantially all of the assets of Immunicon Corporation (OTC Bulletin Board: IMMC) for $31 million in cash subject to certain closing date adjustments, plus the discharge and release of certain claims owing to Veridex, LLC and the assumption of certain specified liabilities.
The assets to be acquired include intellectual property, product inventory and clinical data as well as all technologies related to the CellSearch(TM) System, the first diagnostic test to automate the detection and enumeration of circulating tumor cells (CTCs), cancer cells that detach from solid tumors and enter the blood stream. The CellSearch(TM) System is currently cleared for the prognosis and monitoring of patients with metastatic breast, metastatic colorectal and metastatic prostate cancer.
"This agreement represents a strategic opportunity for Veridex to continue to bring innovative diagnostic tests to the patients, physicians and laboratories involved in the fight against cancer," said Ken Berlin, General Manager, Veridex, LLC.
Veridex and Immunicon have partnered since 2000 to develop and commercialize novel cancer diagnostic platforms and products.
The transaction is subject to the approval by the bankruptcy court overseeing Immunicon's bankruptcy case. It is not expected to require anti-trust review or shareholder approval.
Veridex, LLC, a Johnson & Johnson company, is an organization dedicated
to providing physicians with high-value in vitro diagnostic oncology
products. Veridex is focused on developing products that will significantly
benefit patients through earlier disease detection, and enable personalized
medicine strategies to improve patient management and outcomes. The company
develops cancer diagnostic products that may enable earlier disease
detection as well as more accurate
|SOURCE Veridex, LLC|
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