Immunomedics Advances Solid Tumor Antibody-Drug Conjugate Programs to Phase II Clinical Trials

Immunomedics Advances Solid Tumor Antibody-Drug Conjugate Programs to Phase II
Clinical Trials

MORRIS PLAINS, N.J., Aug. 12, 2013 (GLOBE NEWSWIRE) -- Immunomedics, Inc.
(Nasdaq:IMMU), a biopharmaceutical company primarily focused on the
development of monoclonal antibody-based products for the targeted treatment
of cancer, autoimmune and other serious diseases, announced today that the
three Phase I trials evaluating the Company's antibody-drug conjugates (ADCs)
in patients with diverse solid tumors have now advanced to Phase II clinical
trials. IMMU-130, labetuzumab-SN-38, was being studied in two different
Phase-I dose-finding trials in patients with advanced (metastatic) colorectal
cancer, after failing several prior therapies. IMMU-132, the anti-Trop-2-SN-38
ADC, was being evaluated in a single dose-escalation trial in late-stage
metastatic cancer patients with multiple solid tumor types after failing
several prior therapies. The purpose of these Phase I trials was to determine
a tolerable dose that could be administered in repeated cycles, and any early
evidence of efficacy.

"As we have reported previously, we are encouraged with the early evidence of
activity demonstrated in these ADC programs. The optimal dosing schedules for
IMMU-130 and IMMU-132 have now been determined, and we have advanced into
Phase II clinical trials. We will continue to expand these programs. We are
particularly pleased with the rapid completion of the Phase I studies. The new
Phase II trials will be expanded to additional clinical sites, in response to
the enthusiasm we have experienced with our current and future investigators,"
commented the Company's President and CEO, Cynthia L. Sullivan.

Further information will be provided during the Company's quarterly earnings
call on August 23rd, 2013, at 10 a.m.

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, cytokines 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™) method 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 227 active patents in the United States and more
than 400 foreign patents, protects our product candidates and
technologies.Our strength in intellectual property has resulted in the top-10
ranking in the 2012 IEEE Spectrum Patent Power Scorecards in the Biotechnology
and Pharmaceuticals category.For additional information on us, please visit
our website at www.immunomedics.com. 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, potential
collaborations, 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 any cash payment that the Company might
receive in connection with a sublicense involving a third party and UCB, which
is not within the Company's control, new product development (including
clinical trials outcome and regulatory requirements/actions), our dependence
on our licensing partners for the further development of epratuzumab 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.

CONTACT: For More Information:
         Dr. Chau Cheng
         Senior Director, Investor Relations & Grant Management
         (973) 605-8200, extension 123
         ccheng@immunomedics.com
 
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