Veridex Completes Acquisition of Immunicon Assets

(Huntington Valley, PA; USA) and its wholly owned subsidiaries. Veridex and Immunicon have partnered since 2000 to develop and commercialize novel cancer diagnostic platforms and products. Veridex paid Immunicon US$31.3 million in cash, subject to post-closing adjustments, discharged and released about $2 million of certain claims owing to Veridex, and assumed certain trade accounts payable liabilities and certain contracts.

Immunicon Corporation developed and commercialized proprietary cell- and molecular-based human diagnostic and life science products. Immunicon developed platform technologies to identify, count, and characterize a small number of rare cells in blood, such as circulating tumor cells (CTC) and circulating endothelial cells that are important in many diseases and biological processes.

The assets acquired by Veridex include intellectual property, product inventory, and clinical data, as well as all technologies related to the CellSearch system, the diagnostic test that automates the detection and enumeration of circulating tumor cells (CTCs). The CellSearch system is currently used for the prognosis and monitoring of patients with metastatic breast, metastatic colorectal, and metastatic prostate cancer. As part of the agreement, Veridex also received all technologies related to repeat-free (RF) fluorescent in situ hybridization (FISH) probes, which are the latest advance in FISH DNA probes.

Veridex, LLC (a Johnson and Johnson company) is an organization dedicated to providing physicians with high-value in vitro diagnostic oncology products. The company aims to benefit patients through earlier disease detection that would enable personalized strategies to help improve patient management and outcomes.

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