Immunomedics Receives Edison Patent Award From Research & Development Council Of New Jersey For The Fourth Time

MORRIS PLAINS, N.J., Nov. 04, 2016 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (Nasdaq:IMMU) today announced that the Company was honored by the Research & Development Council of New Jersey with their coveted Edison Patent Award, in recognition of the Company's significant achievements in the biotechnology category for its novel immuno-oncology program.

"We are delighted to receive this prestigious award for the fourth time," commented Cynthia L. Sullivan, President and Chief Executive Officer of Immunomedics. "We are excited to be recognized by our peers for creating our own immuno-oncology agents for solid cancer therapy using our proprietary Dock-and-Lock ® protein conjugation platform technology," Ms. Sullivan further remarked. "One of these agents will be the subject of an upcoming presentation at the 2016 San Antonio Breast Cancer Symposium on redirected T-cell therapy of triple-negative breast cancer, which can be enhanced by combining it with our own proprietary immune checkpoint inhibitor," she concluded.

The Edison award is for U.S. Patent 9,315,567, "T-cell redirecting bispecific antibodies for treatment of disease," an invention that is a method of treating cancer by redirecting a patient's own immune system to kill cancer cells using a novel bispecific antibody format that can simultaneously bind to two receptors, one on the cancer cells and the other on T cells, a type of white blood cells. This technology avoids the costly and time consuming process of the removal of the patient's blood cells, manipulation of the cells ex-vivo, followed by the administration of the manipulated cells back into the patient, which have some inherent toxicities.

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