MORRIS PLAINS, N.J., Dec. 7 /PRNewswire-FirstCall/ -- Immunomedics, Inc.
(Nasdaq: IMMU), a leading biopharmaceutical company focused on developing
monoclonal antibodies, today announced that stockholders of the Company, at
its 22nd annual meeting, approved resolutions to elect all eight nominees to
serve as directors of the Company until the next annual meeting, and to ratify
the selection of Ernst & Young as the Company's independent registered public
accounting firm for the current fiscal year.
"This past year was one of significant accomplishments for Immunomedics,
demonstrated by the fact that we received Fast Track designation by FDA for
epratuzumab in the lupus indication, we developed and submitted protocols and
other regulatory documents in the US and Europe, and we received approval to
begin our Phase III ALLEVIATE trials evaluating epratuzumab as a potential
therapeutic for patients with lupus. For the first time in the Company's
history, we are in the final phase of clinical development with a potential
therapeutic in a disease with a high-unmet medical need. The ALLEVIATE trials
have also elevated us to a late-stage development company," remarked Cynthia
L. Sullivan, President and Chief Executive Officer. "Our top priorities are
to consummate a worldwide agreement for the final clinical development and
commercialization of epratuzumab in all indications, and to continue patient
enrollment in these trials," Ms. Sullivan further remarked.
About Immunomedics
Immunomedics is a New Jersey-based 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. Our lead product candidate, epratuzumab, is
currently in two pivotal Phase III trials for the treatment of patients with
moderate and severe lupus (ALLEVIATE A and B). At present, there is no cure
for lupus and no new lupus drug has been approved in the U.S. in the last 40
years. We believe that our portfolio of intellectual property, which includes
approximately 90 patents issued in the United States, and more than 250 other
issued patents worldwide, protects our product candidates and technologies.
Visit our web site at http://www.immunomedics.com.
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, 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 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.
For More Information:
Dr. Chau Cheng
Associate Director, Investor Relations & Business Analysis
(973) 605-8200, extension 123
ccheng@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:
Dr. Chau Cheng, Associate Director, Investor
Relations & Business Analysis of Immunomedics, Inc.,
+1-973-605-8200 ext 123, or ccheng@immunomedics.com
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