Immunicon Corporation Announces Corporate Restructuring

  
    
  
  
    
      Immunicon Corporation 
      (NASDAQ:IMMC) announced today it has reduced staff levels and incurred 
      certain expenses in order to better facilitate the Company’s 
      current strategy, near-term outlook and ongoing operations. This 
      initiative principally includes a workforce reduction of approximately 
      40% of the Company’s full-time equivalent 
      staff, primarily in platform development programs, research and 
      development of new products, marketing of current and new products and 
      related roles at the Company.
    
    
      The workforce reduction reflects, and is a result of the detailed 
      analysis of, several factors, including Immunicon’s 
      revenue outlook and current expense structure; the adverse March 3, 2008 
      final decision in the Company’s arbitration 
      with Veridex LLC, a Johnson & Johnson company, and the potential effect 
      of the final decision on Immunicon’s 
      commercialization efforts; Immunicon’s desire 
      to reduce its cost structure; Immunicon’s 
      desire to preserve stockholder value; and management’s 
      assessment of continued risk and uncertainty regarding the ability at 
      the present time to extrapolate with confidence instrument placement and 
      revenue growth rates.
    
    
      Immunicon anticipates taking a charge in the first fiscal quarter of 
      2008 of between approximately $1.3 and $1.5 million for severance and 
      other costs related to the realignment of staff levels and workforce 
      reduction.
    
    
      About Immunicon Corporation
    
    
      Immunicon Corporation is developing and commercializing proprietary 
      cell- and molecular-based human diagnostic and life science research 
      products with an initial focus on cancer disease management. Immunicon 
      has developed platform technologies for selection and analysis of rare 
      cells in blood, such as circulating tumor cells and circulating 
      endothelial cells that are important in many diseases and biological 
      processes. Immunicon’s products and underlying 
      technology platforms also have application in the clinical development 
      of cancer drugs and in cancer research and may have applications in 
      other fields of medicine, such as cardiovascular and infectious 
      diseases. For more information, visit www.immunicon.com.
    
    
      The information contained in this press release includes “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. These forward-looking 
      statements are often preceded by words such as “hope,” 
      “may,” “believe,” 
      “anticipate,” “plan,” 
      “expect,” “intend,” 
      “assume,” “will” 
      and similar expressions. Forward-looking statements contained in this 
      press release include, among others, statements relating to Immunicon’s 
      key product and clinical development programs, the anticipated clinical 
      utility of Immunicon’s products, and other 
      statements not of historical fact. Immunicon cautions investors not to 
      place undue reliance on the forward-looking statements contained in this 
      press release. Forward-looking statements speak only as of the date of 
      this press release, reflect management’s 
      current expectations and involve certain factors, such as risks and 
      uncertainties that may cause actual results to be far different from 
      those suggested by Immunicon’s 
      forward-looking statements. These factors include, but are not limited 
      to, risks and uncertainties associated with: Immunicon’s 
      dependence on Veridex, LLC, a Johnson & Johnson company; the risks and 
      uncertainties associated with the arbitration proceeding with Veridex 
      and the Award in favor of Veridex given Immunicon’s 
      dependence on Veridex; Immunicon’s capital 
      and financing needs; research and development and clinical trial 
      expenditures; commercialization of Immunicon’s 
      product candidates; Immunicon’s ability to 
      use licensed products and to obtain new licenses from third parties; 
      Immunicon’s ability to manage its growth; 
      obtaining necessary regulatory approvals; reliance on third party 
      manufacturers and suppliers; reimbursement by third party payors to 
      Immunicon’s customers for Immunicon’s 
      products; risks and uncertainties associated with Immunicon’s 
      outstanding convertible notes and warrants; compliance with applicable 
      manufacturing standards; the ability to earn license and milestone 
      payments under Immunicon’s agreement with 
      Veridex; retaining key management or scientific personnel; delays in the 
      development of new products or to planned improvements to Immunicon’s 
      products; effectiveness of Immunicon’s 
      products compared to competitors’ products; 
      protection of Immunicon’s intellectual 
      property and other proprietary rights; conflicts with the intellectual 
      property of third parties; product liability lawsuits that may be 
      brought against Immunicon; labor, contract or technical difficulties; 
      and competitive pressures in Immunicon’s 
      industry. These factors are discussed in more detail in Immunicon’s 
      filings with the Securities and Exchange Commission. Except as required 
      by law, Immunicon accepts no responsibility for updating the information 
      contained in this press release beyond the published date, whether as a 
      result of new information, future events or otherwise, or for 
      modifications made to this document by Internet or wire services.
    
    
      “Immunicon” and 
      the Immunicon Corporation logo are registered trademarks of Immunicon 
      Corporation. “CellTracks” 
      is a registered trademark of Immunivest Corporation, a wholly-owned 
      subsidiary of Immunicon Corporation. “CellSearch” 
      is a trademark of Johnson & Johnson. All other trademarks or 
      servicemarks appearing herein are the property of their respective 
      holders. ALL RIGHTS RESERVED.