Immunomedics (IMMU) Awarded Patent for Antibody Therapy

MORRIS PLAINS, N.J., Feb. 17, 2010 (GLOBE NEWSWIRE) — Immunomedics, Inc. (Nasdaq:IMMU – News), a biopharmaceutical company focused on developing monoclonal antibodies to treat cancer and other serious diseases, today announced that U.S. patent 7,662,378 was issued covering the use of humanized, chimeric or human antibodies that bind to the carcinoembryonic antigen (CEA) in combination with at least one other therapeutic agent, such as another antibody, a chemotherapeutic agent, a radioactive isotope, an antisense oligonucleotide, an immunomodulator, an immunoconjugate or a combination thereof. The allowed claims also cover methods of treating CEA-expressing cancers, particularly medullary thyroid cancer, non-medullary thyroid cancers, colorectal cancers, hepatocellular carcinoma, gastric cancer, lung cancer, breast cancer and other cancers in which CEA is expressed, using the composition.

“This is another important patent protection around our family of anti-CEA antibodies until the year 2023,” commented Cynthia L. Sullivan, President and CEO. “TF2, a new bi-specific antibody construct containing the anti-CEA antibody, is currently in three investigator-sponsored clinical studies in the U.S. and Europe for pretargeted imaging and radioimmunotherapy of colorectal and lung cancers,” she added.  Ms. Sullivan also remarked: “Our humanized anti-CEA antibody labeled with therapeutic doses of I-131 has also been reported, in a Phase-II study published from Germany, to extend the survival of colorectal cancer patients who had resection of their liver metastases.”

About Immunomedics

Immunomedics is a New Jersey-based biopharmaceutical company primarily focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. We have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, we have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. We also have a majority ownership in IBC Pharmaceuticals, Inc., which is developing a novel Dock-and-Lock (DNL) methodology with us for making fusion proteins and multifunctional antibodies, and a new method of delivering imaging and therapeutic agents selectively to disease, especially different solid cancers (colorectal, lung, pancreas, etc.), by proprietary, antibody-based, pretargeting methods. We believe that our portfolio of intellectual property, which includes approximately 146 patents issued in the United States and more than 300 other patents issued worldwide, protects our product candidates and technologies. For additional information on us, please visit our website at http://www.immunomedics.com/. The information on our website does not, however, form a part of this press release.

This release, in addition to historical information, may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such statements, including statements regarding clinical trials, out-licensing arrangements (including the timing and amount of contingent payments), forecasts of future operating results, and capital raising activities, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Factors that could cause such differences include, but are not limited to, risks associated with new product development (including clinical trials outcome and regulatory requirements/actions), our dependence on our licensing partners for the further development of epratuzumab for autoimmune indications and veltuzumab for non-cancer indications, competitive risks to marketed products and availability of required financing and other sources of funds on acceptable terms, if at all, as well as the risks discussed in the Company’s filings with the Securities and Exchange Commission. The Company is not under any obligation, and the Company expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.