Immunomedics, Inc. (IMMU) Receives Third Milestone Payment From Nycomed  
6/27/2011 6:42:22 AM

MORRIS PLAINS, N.J., June 27, 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 announced the receipt of $10 million from Nycomed relating to a milestone for the clinical development of veltuzumab in rheumatoid arthritis. Nycomed has the worldwide rights to develop, manufacture and commercialize veltuzumab, in the subcutaneous formulation, for the treatment of all non-cancer indications.