MORRIS PLAINS, N.J., July 7 /PRNewswire-FirstCall/ -- Immunomedics, Inc.
(Nasdaq: IMMU) today announced that CIS bio international of France entered
into a settlement of issues arising from past sales of in vitro products in
relation to Immunomedics' carcinoembryonic antigen (CEA) patents. These
patents cover antibodies that specifically recognize CEA, one of the most
widely used markers for colorectal and other cancers. Under the settlement
agreement, CIS bio international agreed to pay an undisclosed sum for the past
sales of the products.
Immunomedics is a biopharmaceutical company focused on the development,
manufacture and commercialization of diagnostic imaging and therapeutic
products for the detection and treatment of cancer and other serious diseases.
Integral to these products are highly specific monoclonal antibodies and
antibody fragments designed to deliver radioisotopes and chemotherapeutic
agents to tumors and other sites of disease. Immunomedics has nine
therapeutic product candidates in clinical development and has two marketed
diagnostic imaging products. The most advanced therapeutic product candidates
are LymphoCide(R) (epratuzumab), for which certain Phase II clinical trials
for the treatment of non-Hodgkin's lymphoma have already been completed, and
CEA-Cide(R) (labetuzumab), which is in Phase I/II clinical trials for the
treatment of certain solid tumors.
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,
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 year June 30, 2003. 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: Trish Merwin, Finance & Investor Relations Coordinator,
(973) 605-8200, extension 263. 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:
Trish Merwin, Finance & Investor Relations
Coordinator, Immunomedics, Inc., +1-973-605-8200, ext. 263
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