MORRIS PLAINS, N.J., April 23, 2014 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (Nasdaq:IMMU), a biopharmaceutical company focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases, today announced a historical milestone in the Company's listing at the NASDAQ stock market, which is going on 30 years strong. Only a small, elite group of biopharmaceutical companies has this longevity.
After ringing the opening bell at NASDAQ, the Company held its Research and Development Day for analysts and institutional investors, highlighting the 3 major pillars that are the value drivers for the Company: epratuzumab, (anti-CD22 humanized antibody), from which top-line data from the two Phase III registration trials in patients with moderate to severe lupus is expected first quarter 2015 by partner UCB; yttrium-90 ( 90Y)-labeled clivatuzumab tetraxetan that is being evaluated in a Phase III trial to treat patients with advanced pancreatic cancer; and the two antibody-drug conjugates (ADCs) for solid tumor therapy, IMMU-132 and IMMU-130, which are progressing in Phase II trials.
"In addition," Company President and Chief Executive Officer, Cynthia L. Sullivan, emphasized, "we are advancing other product candidates in earlier-stage clinical trials as well as other novel technologies in preclinical studies."Dr. David M. Goldenberg, Chairman and Chief Scientific Officer, introduced the science underlying the agents in clinical trials, beginning with new information on the mechanism of action of epratuzumab, followed by the Company's proprietary linker for conjugating SN-38 to the two ADCs. Before introducing the clinical investigators who summarized their experiences with the Company's most advanced therapeutics, Dr. Goldenberg also described the scientific efforts to develop a novel and potent T-cell immunotherapy for solid cancers. Dr. Michael J. Guarino, medical oncologist at the Christiana Care Health System, Helen F. Graham Cancer Center, in Newark, DE, summarized the current status of the clinical trials with IMMU-130, the Company's ADC targeting CEACAM5 for colorectal cancers therapy, including two cases where IMMU-130 was able to shrink the patients' colonic cancer metastases 52% and 66%, respectively. "The second patient is being treated at our center for almost 9 months, receiving doses twice weekly during this time, without evidence of major side effects or any immune reaction to the ADC; the patients had 4 prior therapies before entering this trial," Dr. Guarino explained.