MORRIS PLAINS, N.J., Jan. 19 /PRNewswire-FirstCall/ -- Immunomedics, Inc.
(Nasdaq: IMMU) today announced that the Biologics and Genetics Therapies
Directorate at the Health Products and Food Branch of Health Canada has
approved the marketing and use of LeukoScan(R) (sulesomab) for the detection
of osteomyelitis.
"We are pleased that the Canadian government has approved this important
diagnostic product for imaging bone infection. The advantage of LeukoScan(R)
is its ease of use and that it eliminates the multiple risks associated with
the conventional white blood cell labeling method. Our distributor in Canada
will be GE Healthcare Medical Diagnostics (formerly Amersham Health)
(NYSE: GE)," remarked Cynthia L. Sullivan, President and Chief Executive
Officer.
Osteomyelitis is commonly a disease of childhood but adults with lowered
immunity and diabetes are also susceptible. Early diagnosis of infection in
diabetic patients with foot ulcers is critical, since prompt treatment with
antibiotics may decrease the need for amputation. Nuclear Medicine imaging
with LeukoScan(R) has been shown to be highly sensitive for detecting
osteomyelitis in patients with diabetic foot ulcers, and may also be useful
for monitoring the efficacy of antibiotic treatment. LeukoScan(R) works by
preferentially binding to activated granulocytes in the blood stream and at
the site of infection. Because more activated granulocytes are at the site of
infection than in circulation or bone marrow, there is less non-specific
activity. The product is sold through distributors in Australia, throughout
Europe and the Middle East, with registrations pending in Argentina, India,
and Israel.
Immunomedics is a biopharmaceutical company 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 believe that our portfolio of intellectual property, which
includes approximately 90 issued patents in the United States, and more than
250 other issued patents worldwide, protects our product candidates and
technologies.
This release, in addition to historical information, contains forward-
looking statements made pursuant to the Private Securities Litigation Reform
Act of 1995. Such statements, including statements regarding clinical trials,
out-licensing arrangements, 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), competitive risks to marketed products and availability
of financing and other sources of capital, as well as the risks discussed in
the Company's Annual Report on Form 10-K for the fiscal year ended June 30,
2004. 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.
Company Contact: Chau Cheng, Associate Director, Investor Relations &
Business Analysis, (973) 605-8200, extension 123. Visit the Company's web
site at http://www.immunomedics.com.
SOURCE Immunomedics, Inc.
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Related links:
http://www.immunomedics.com
Company News On-Call:
http://www.prnewswire.com/comp/113121.html
CONTACT:
Chau Cheng, Associate Director, Investor
Relations & Business Analysis of Immunomedics, Inc.,
+1-973-605-8200, ext. 123
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