RESEARCH TRIANGLE PARK, N.C., June 4, 2009 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) today announced that the Company has retained J.P. Morgan to provide advice and assistance on a range of possible transactions, including the formation of one or more collaborations or the potential acquisition of the Company. Icagen has not determined whether to pursue any particular strategic alternative, and, given market conditions and discussions with third parties to date, expects that the process may extend over the next two quarters and possibly longer. Icagen does not expect to provide any updates until the process or any strategic transaction has concluded. There can be no assurance that, if any transaction is commenced, it will be completed or as to the value that any such transaction might have for Icagen’s stockholders.
