updated 4/6/2011 2:16:29 PM ET 2011-04-06T18:16:29

MORRIS PLAINS, N.J., April 6, 2011 (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, today reported the issuance of U.S. Patent 7,919,273 on April 5, 2011, with expiration on July 21, 2029.

This patent describes structural variations of antibodies resulting in improved therapeutic properties. It claims a method of improving a chimeric or humanized anti-CD20 antibody or antigen-binding fragment comprising at least one amino acid substitution in one of the antigen-binding arms, including the substitution of an aspartate for asparagine at Kabat position 101 of the antibody heavy chain.  The substitution results in an improved property for killing target lymphocytes or lymphoma cells expressing CD20 by one or more mechanisms of action.  This specifically involves veltuzumab, the Company's proprietary, 2nd generation, humanized anti-CD20 antibody evaluated as both an intravenous and as a subcutaneous formulation in patients with non-Hodgkin's lymphomas (NHL), chronic lymphocytic leukemia, and immune thrombocytopenia.  The Company has more than 10 issued U.S. and foreign patents related to veltuzumab.

Immunomedics is collaborating with Nycomed, who received the exclusive, worldwide rights to develop, manufacture and commercialise the subcutaneous formulation of veltuzumab for the treatment of all non-cancer indications.  Nycomed is planning to initiate a Phase II study of the subcutaneous formulation of veltuzumab in patients with rheumatoid arthritis during this year.

"This structure-function change differentiates veltuzumab from other anti-CD20 antibodies, and based on preclinical and clinical therapy studies in lymphomas, it appears to have a high potency, even at very low doses," commented Cynthia L. Sullivan, President and Chief Executive Officer. "Veltuzumab is ready for Phase III, registration trials in oncology, so gaining long-term patent protection is very important commercially," she added.

Results from the study on the property and structure-function relationships of veltuzumab were published in Blood. (For more information, please refer to the Company's press release at www.immunomedics.com/news_pdf/2009_PDF/PR01292009.pdf ). Final results from the Company's Phase I/II study of veltuzumab in patients with NHL were reported in the Journal of Clinical Oncology ( www.immunomedics.com/news_pdf/2009_PDF/PR05182009.pdf ).

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) 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 173 patents issued in the United States and more than 400 foreign patents, protects our product candidates and technologies.  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, 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.

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

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