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Immunicon and Eisai, Co. Ltd. Enter Research Agreement for Biomarker Development With Circulating Tumor Cells

Posted on: Thursday, 7 December 2006, 08:15 CST

Immunicon Corporation (NASDAQ-GM:IMMC) announced today that the Company entered into a Research Agreement with Eisai, Co. Ltd. a pharmaceutical company based in Tokyo, Japan. The Research Agreement funds biomarker development for certain proteins and their modifications associated with molecular targeted agents. Leon Terstappen, Chief Scientific Officer of Immunicon said, "We are pleased to work with Eisai on these important biomarkers. If successful, these proteins and their modifications will help to identify patients that may benefit from targeted therapies or to monitor treatment efficacy."

Byron D. Hewett, President and Chief Executive Officer of Immunicon, commented: "We are pleased to add Eisai to our growing list of pharma partners. We now have research collaborations with partners in the United States, Europe and Japan, all with the important goal of advancing the understanding of cancer and ultimately improving the lives of patients."

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.

About Eisai Co., Ltd.

Eisai Co., Ltd. is a research-based human health care company that discovers, develops and markets products throughout the world. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide health care system. Eisai employs more than 9,000 people worldwide. For more information, please visit http://www.eisai.co.jp/index-e.html

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 relating to 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 dependence on Veridex, LLC, a Johnson & Johnson company, in the field of cancer cell analysis; 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" and the Immunicon Corporation logo are registered trademarks of Immunicon Corporation. ALL RIGHTS RESERVED.

Source: Business Wire

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