ImmuCell Corp. (NasdaqCM:ICCC) acquired Certain Business Assets from DAY 1 Technology, LLC for $0.53 million on January 4, 2016. The total purchase price was approximately $0.53 million and approximately $0.37 million was paid as of the closing date, and the remaining balance will be paid contingent upon successful technology transfer and as a royalty on related product sales made through December 31, 2018. The acquired assets include rights, know-how, private-label products that could generate around $0.3 million in annual sales for ImmuCell, inventory, machinery, equipment and certain intellectual property intangibles. The total purchase price is expected to approximate $0.35 million to $0.55 million including estimated contingent payments due over the next three years. ImmuCell has extended job offers to four full-time and three part-time employees of DAY 1™ Technology and plans to continue current operations at a leased facility in Minnesota.

ImmuCell Corp. (NasdaqCM:ICCC) completed the acquisition of Certain Business Assets from DAY 1 Technology, LLC on January 4, 2016.