MORRIS PLAINS, N.J., Feb. 4, 2014 (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 announced that the Company is the #4 innovator in the biotechnology industry, according to the scorecard published by the Wall Street Journal Online on WSJ.com, for the 13-week period ending January 31, 2014. The ranking is based on the scale, quality, impact and nearness to core science of the Company's patent-based intellectual property, factoring in both qualitative and quantitative aspects of the patent portfolio.
In addition, among the top 20 companies on the scorecard, Immunomedics ranked first in Industry Impact™ – an indication of the extent to which others are building upon a portfolio of issued US utility patents as compared to the total set of utility patents, and third in Technology Strength™, which is a ranking measure to indicate an overall strength of the Company's patent portfolio holdings with a combined measure of quality and quantity.
Dr. David M. Goldenberg, Chairman and Founder, as well as Chief Scientific Officer, commented: "It is quite a compliment to rank just under Roche Holdings, Amgen, and Biogen-Idec in this scoring of innovators in the biotechnology industry." "Science is the driver in biotechnology, and we of course appreciate this recognition of our science, alongside protecting our intellectual property, which is of utmost importance to future commercial success," he added."We are proud of this recognition by the Patent Board of our innovation, technology and science," remarked Cynthia L. Sullivan, President and Chief Executive Officer. Please visit http://online.wsj.com/mdc/public/page/2_3022-macromkt.html to view the top 50 companies in Biotechnology. 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. Our lead product candidate, epratuzumab, is currently in two Phase III clinical trials in lupus. In oncology, clivatuzumab tetraxetan labeled with a radioisotope is in a Phase III pivotal trial in advanced pancreatic cancer patients. Other solid tumor therapeutics in Phase II clinical development include 2 antibody-drug conjugates, IMMU-132 (anti-TROP-2-SN-38) and IMMU-130 (anti-CEACAM5-SN-38). 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. DNL™ is being used particularly to make bispecific antibodies targeting cancers and infectious diseases as a T-cell redirecting immunotherapy, as well as bispecific antibodies for next-generation cancer and autoimmune disease therapies. We believe that our portfolio of intellectual property, which includes approximately 243 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-4 ranking in the January 2014 Patent Board scorecard in the Biotechnology industry. 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 UCB for the further development of epratuzumab 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 email@example.com
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