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news.Veridex has signed an asset purchase agreement to acquire substantially all of the assets of Immunicon for $31 million in cash subject to certain closing date adjustments, plus the discharge and release of certain claims owing to Veridex and the assumption of certain specified liabilities.
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The assets to be acquired include intellectual property, product inventory and clinical data as well as all technologies related to the CellSearch system, the first diagnostic test to automate the detection and enumeration of circulating tumor cells, cancer cells that detach from solid tumors and enter the blood stream.
The CellSearch system is currently cleared for the prognosis and monitoring of patients with metastatic breast, metastatic colorectal and metastatic prostate cancer.
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.
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.”