The acquired assets will include intellectual property for the technology, known as the "Xcellerate Process," raw materials and equipment, and clinical data from six clinical trials of Xcyte's lead product, Xcellerated T Cells.
For Invitrogen, the acquisition is aimed at buttressing the firm's immunotherapy offerings, and plays into its acquisition of Dynal, which closed in April. "We firmly believe T-cell based therapy will become an important contributor in the efforts to fight disease in the future," Oystein Amellem, business area manager for Invitrogen's Dynal Bead Based Separation group, said in a statement.
Xcyte has collaborated with Dynal Biotech in the production of Xcyte Dynabeads, the bead Xcyte uses to expand and activate T cells for "potential therapeutic indications in oncology and infectious disease," Xcyte said in a statement.
"Expansion of T cells ex vivo using Dynabeads to which anti-CD3 and anti-C28 monoclonal antibodies are linked may prove useful for the treatment of cancer, infectious diseases and recently autoimmune diseases," Amellem added.
Terms of the acquisition also call for Xcyte to receive an undisclosed percentage of any sublicensing revenue Invitrogen derives from licensing Xcyte's intellectual property for therapeutic purposes. This part of the deal is subject to certain minimum revenue requirements, the firms said.
The transaction is subject to certain customary closing conditions, including the approval of Xcyte's stockholders.