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news.Immunicon Corporation and Pfizer have established a second extension of their R&D agreement, under which the two companies are collaborating to develop new reagents designed to detect certain undisclosed antigens on circulating tumor cells.
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The agreement, originally entered into in February 2003, and amended in April 2004, has now been amended to extend the term to February 2006. Immunicon believes this project may help Pfizer to determine the efficacy of certain of their therapeutic products significantly earlier than is possible with other methods.
Under the extended agreement, Immunicon will receive payments in support of its work with Pfizer. However, Pfizer has the right to terminate with or without reason upon written notice to Immunicon, in which case Pfizer’s only obligation will be to pay for services performed up to the termination date plus payment for any non-cancelable obligations.
Edward Erickson, chairman of the board, president and CEO of Immunicon, said, “We are very pleased to continue our collaboration with Pfizer, one of the worlds premier pharmaceutical companies.”
Immunicon Corporation is developing and commercializing proprietary cell-based research and human diagnostic products with an initial focus on cancer disease management. The company has developed platform technologies for selection and analysis of rare cells in blood, such as circulating tumor cells (CTCs).