ImClone Systems Incorporated Announces Favorable Outcome In Binding Arbitration Over Rights To IMC-11F8

NEW YORK--(BUSINESS WIRE)--April 4, 2006--ImClone Systems Incorporated (NASDAQ:IMCL - News) announced today that the arbitrator has decided in favor of ImClone Systems in a dispute between the Company and Merck KGaA over rights to develop and commercialize the ImClone Systems-developed IgG1 monoclonal antibody IMC-11F8. The decision, which is binding and cannot be appealed, leaves the exclusive rights to develop and commercialize IMC-11F8 outside the United States and Canada to ImClone Systems. Commercial rights to this antibody in the U.S., Canada and Japan fall within the scope of ImClone Systems' commercial agreement with Bristol-Myers Squibb regarding ERBITUX®.