MORRIS PLAINS, N.J., Oct. 12 /PRNewswire-FirstCall/ -- Immunomedics, Inc.
(Nasdaq: IMMU) today announced that Brian A. Markison has been appointed to
the Company's Board of Directors. Mr. Markison is the President and Chief
Executive Officer, and a member of the Board of Directors, of King
Pharmaceuticals, Inc. (NYSE: KG). Mr. Markison has a distinguished career of
over 22 years in sales, marketing, strategic planning and general management,
both domestically and internationally, in the pharmaceuticals industry.
Prior to joining King Pharmaceuticals, he was the President of Oncology,
Virology and Oncology Therapeutics Network at Bristol-Myers Squibb, where he
held a number of key leadership roles throughout his career. The Board of
Directors will recommend the election of Mr. Markison in the 2004 proxy, which
will be distributed at the end of October.
Mr. Markison stated: "I am excited about the prospects for Immunomedics,
and hope to leverage my oncology and immunology experience to assist the
Company with its strategy for growth."
Dr. David M. Goldenberg, Chairman of the Board and founder of the Company,
remarked: "We are delighted to have such an experienced and capable
pharmaceutical executive join us. His commercial development and licensing
experience are of particular value to us as we advance our therapeutic product
candidates and seek partnering opportunities for their commercialization."
Immunomedics, Inc. 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 therapeutic product candidates in clinical development and has two
marketed diagnostic imaging products. Our most advanced therapeutic product
candidate is epratuzumab, for which certain Phase II clinical trials for the
treatment of non-Hodgkin's lymphoma have already been completed.
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, 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, Immunomedics, Inc.,
+1-973-605-8200, ext. 123
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