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Home Industry News Johnson and Johnson announces Immunicon acquisition

Johnson and Johnson announces Immunicon acquisition

12th June 2008

Veridex, a Johnson & Johnson company, has signed an purchase agreement to acquire all the assets of Immunicon for $31 million (15.9 million pounds) in cash.

Assets covered by the agreement include product inventory, clinical data, intellectual property and all technology related to the CellSearch System.

Both companies previously partnered in 2000 for the development and commercialisation of innovative diagnostic platforms and products in oncology.

The CellSearch System is the first diagnostic test that can automate the detection and enumeration of cancer cells that detach from solid tumours and enter the blood stream – known as circulating tumour cells.

Currently, the CellSearch System is approved for the monitoring and prognosis of metastatic breast, colorectal and prostate cancer.
Ken Berlin, general manager of Veridex, said: “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.”

The deal amount is subject to certain closing date adjustments, the assumption of certain specified liabilities and the discharge and release of certain claims owing to Veridex.

In November 2007, Robert McCormack, vice-president of medical and scientific affairs at Veridex, underlined the importance of identifying circulating tumour cells in tackling metastatic cancers.

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