Imre Corp. on Monday said it has formed a diagnosticsubsidiary called CELx Corp.
The unit will focus on development of diagnostic assays usingimmunoadsorption technology developed by Imre.
The company is first targeting use of the separationstechnology in diagnostic tests for breast cancer.
A patient's blood sample will have the plasma separated andput through a column that will concentrate a specific moleculethat indicates the occurrence of breast cancer. The molecule isdifficult to test for in low concentrations, and the companybelieves its column technology will allow for more accurate andearlier determination of the molecule, said Lois Yoshida, Imrevice president of corporate affairs.
CELx has been assigned a patent and proprietary technologyowned by Imre pertaining to diagnostics. Imre will continuedevelopment of its Prosorba column for therapeuticapplications.
Imre (NASDAQ:IMRE) said it sold about 17 percent of CELx toinstitutional and private investors for $500,000. Allen & Co.Inc. acted as agent for the placement.
Imre shares closed at $4, up 6 cents. -- HG
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