JOHNSON & JOHNSON — Director's Dealing 2004

Apr 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMMUNICON CORP (IMMC)
CIK: 0001083132
Period of Report: 2004-04-21

Reporting Person: JOHNSON & JOHNSON (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-21	Common Stock	C	1753236	—	Acquired	1758236	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-21	Series E Preferred Stock	$	C	1054853	Disposed		Common Stock (703236)	Indirect
2004-04-21	Series F Preferred Stock	$	C	1575000	Disposed		Common Stock (1050000)	Indirect

Footnotes

F1: The securities reported as being indirectly beneficially owned by the Reporting Person are directly beneficially owned by Johnson & Johnson Development Corporation, a wholly-owned subsidiary of the Reporting Person.

F2: All of the outstanding shares of the Issuer's Series E Convertible Preferred Stock were automatically converted on a 1-for-1.5 basis into Common Stock of the Issuer upon the closing of the Issuer's initial public offering.

F3: All of the outstanding shares of the Issuer's Series F Convertible Preferred Stock were automatically converted on a 1-for-1.5 basis into Common Stock of the Issuer upon the closing of the Issuer's initial public offering.