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Immunicon Corporation (NASDAQ CM:IMMC) announced today that the
company received a four-year grant from the Center for Translational
Molecular Medicine (CTMM) to develop a test to detect minimal residual
disease in blood of Acute Myeloid Leukemia patients. Using current
methods, detection can only be done by taking regular bone marrow
aspirates, which are typically very painful to extract for the patient.
The program is planned to launch in September 2008 and is designed to
broaden the number of personalized therapies available to patients.
Financials were not disclosed.
Byron D. Hewett, CEO and President of Immunicon Corporation commented,
"The future of cancer treatment will be targeted and personalized to
each patient. This grant funds the development of Immunicon’s
capture, detection and FISH reagents which we believe will help bridge
the gap between current cancer treatment methods and more
patient-friendly techniques. The grant will allow Immunicon to expand on
the current assay that detects circulating carcinoma cells to
circulating leukemia cells."
Immunicon joins an international consortium of partners for the CTMM
grant including Skyline Diagnostics BV, Crosslinks BV, Flexgen, and Atos
Origin. Academic partners in the investigations include the Institute
for Medical Technology Assessment, VU Medisch Centrum, Universitair
Medisch Centrum Utrecht, Edinburgh University and Erasmus Medisch.
Bob Löwenberg, Professor of Hematology and
18-year Department Chair at Erasmus University Medical Center in
Rotterdam, The Netherlands stated, "The challenge is to identify
differences in the leukemia or multiple myeloma tumors to assess and
select the optimal treatment strategy for individual patients. To
produce meaningful results, a large amount of genetic data has to be
correlated with multiple clinical parameters, involving the extensive
use of bio-informatics, ICT and analytical software to determine the
genetic fingerprints needed to develop new diagnostic tools and devices."
Löwenberg continued, "Diagnosis in Leukemia
has become an art of distinction. The ongoing discovery of genomic
alterations in varieties of leukemias has revealed a dazzling diversity
which markedly influences the clinical management of these diseases. The
CTMM program for leukemia will give an enormous stimulus to the
development of various innovative technologies for diagnosis and
prognosis in leukemia and myeloma that should generate new useful tools
for personalized therapeutics."
About Center for Translational Molecular Medicine
The Center for Translational Molecular Medicine (CTMM) of Eindhoven, The
Netherlands is dedicated to the development of medical technologies that
enable the design of new and "personalized" treatments for the main
causes of mortality and diminished quality of life (cancer and
cardiovascular diseases and, to a lesser extent, neurodegenerative and
infectious diseases) and the rapid translation of these treatments to
the patient. CTMM is a public-private consortium that comprises a
multidisciplinary group of parties –
universities, academic medical centers, medical technology enterprises
and chemical and pharmaceutical companies. For more information, visit www.ctmm.nl.
About Immunicon Corporation
Immunicon Corporation is developing and commercializing proprietary
cell- and molecular-based human diagnostic and life science research
products, and is providing certain analytical services to pharmaceutical
and biotechnology companies to assist them in developing new therapeutic
agents, with an initial focus on cancer disease management. Immunicon
has developed platform technologies to identify, count and characterize
a small number 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 cancer
research and may have applications in other fields of medicine, such as
cardiovascular and infectious diseases. For more information, please
visit www.immunicon.com.
Forward-Looking Statements
This press release may contain "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 regarding the
anticipated clinical utility of Immunicon’s
products and other statements not of historical fact. Immunicon cautions
investors not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release, are
based on the current expectations and intent of the management of
Immunicon and involve certain factors, such as risks and uncertainties
that may cause actual results to be far different from those suggested
by these statements. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict, including, but not limited to, risks and uncertainties
associated with: Immunicon’s ability to
continue as a going concern; Immunicon’s
dependence on Veridex, LLC, a Johnson & Johnson company; the risks and
uncertainties with the arbitration proceeding with Veridex and the award
in favor of Veridex given Immunicon’s
dependencies on Veridex; the ability to earn license and milestone
payments under Immunicon’s agreement with
Veridex; Immunicon’s capital and financing
needs; research and development and clinical trial expenditures;
commercialization of product candidates; Immunicon’s
ability to obtain licenses from third parties to commercialize products;
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; compliance with
applicable manufacturing standards; retaining key personnel; delays in
the development of new products or planned improvements to products;
effectiveness of products compared to competitors’
products; protection of Immunicon’s
intellectual property; conflicts with third party intellectual property;
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,” “CellTracks”
and the Immunicon Corporation logo are registered trademarks of
Immunivest Corporation, a subsidiary of Immunicon Corporation.
Repeat-Free is a trademark of Immunivest Corporation. Poseidon is a
trademark of Kreatech Diagnostics. ALL RIGHTS RESERVED.