Immunicon Corporation (IMMC) Expands Research Collaboration with KREATECH Biotechnology B.V.
4/5/2007 2:45:58 AM
HUNTINGDON VALLEY, Pa.--(BUSINESS WIRE)--Immunicon Corporation (NASDAQ-GM:IMMC) announced today that it and Kreatech Biotechnology B.V. are expanding their current research collaboration related to centromere probes, which was first announced in January 2006, involving the use of Immunicon’s technologies with Kreatech’s proprietary Universal Linkage System (ULS™). Under the new exclusive cross-license agreement, Immunicon has provided an exclusive right to Kreatech to utilize certain of Immunicon’s technologies to improve existing Kreatech products and to manufacture and supply such improved products for sale exclusively by Immunicon in North America. In addition, Immunicon has agreed to make an equity investment in Kreatech of up to $1.5 million based on the achievement of certain development milestones as agreed under a separate investment agreement between the parties.