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 firstname.lastname@example.org