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Immunomedics Awarded Patents for Antibody for PEGylation and Pretargeting Constructs

Tuesday, February 23, 2010

Morris Plains, NJ -- Immunomedics, Inc. (Nasdaq: IMMU), a biopharmaceutical company focused on developing monoclonal antibodies to treat cancer and other serious diseases, today announced the issue of U.S. Patent No. 7,666,400 covering PEGylated therapeutic agents that are constructed using the company's and its majority-owned subsidiary, IBC Pharmaceuticals, Inc's., proprietary dock-and-lock (DNL) technology.

"This extends our existing family of DNL patents to allow production of PEGylated forms of virtually any therapeutic agent. Products currently under development include PEGylated interferon alpha, granulocyte colony-stimulating factor and erythropoietin with superior pharmacokinetic properties," commented Cynthia L. Sullivan, President and CEO.

Also issued today was U.S. Patent No. 7,666,415, covering bispecific antibody constructs incorporating the company's proprietary histamine-succinyl-glycine (HSG)-binding 679 antibody. According to Ms. Sullivan, "This patent further strengthens Immunomedics' extensive patent portfolio in pretargeting technology, which allows the targeted delivery of therapeutic or diagnostic agents using disease-specific antibodies. The HSG-pretargeting conjugates have been used with our novel F-18 labeling methods to provide positron emission tomography (PET) imaging of cancers superior to fluorodeoxyglucose (FDG)-based constructs that are the current industry standard."

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 148 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 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.

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