Laureate Pharma, Inc. Announces Agreement with ImmunoGen, Inc. to Manufacture huC242 Antibody

PRINCETON, N.J., Nov. 1 /PRNewswire/ -- Laureate Pharma, Inc., a full-service biopharmaceutical development and protein production company, is pleased to announce that it has entered into a contract manufacturing agreement with ImmunoGen, Inc. Laureate Pharma will manufacture for ImmunoGen the huC242 antibody used in the production of their huC242-DM4 Tumor-Activated Prodrug (TAP) compound, now in Phase II clinical testing. Terms of the manufacturing agreement were not disclosed.

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"ImmunoGen is well known for its proprietary TAP technology, which uses tumor-targeting antibodies to deliver a potent cell-killing agent specifically to cancer cells," notes Robert J. Broeze, Ph.D., President and Chief Executive Officer of Laureate Pharma. "Laureate Pharma has an established track record in the manufacture of protein based biopharmaceuticals. We are pleased that ImmunoGen chose us to manufacture their antibody and we are excited to be working with them."

About Laureate Pharma, Inc.

Laureate Pharma is a full-service biopharmaceutical development and protein production company located in Princeton, New Jersey. Laureate offers superior bioprocessing services that accelerate new products from development through production. Laureate provides a wide range of specialized services from process design and development to full-scale cGMP production, purification, aseptic filling, testing, validation, analytical services, and regulatory support. Laureate is focused on two active segments of the biopharmaceutical industry: monoclonal antibodies and recombinant protein products. Laureate is a fully owned subsidiary of Safeguard Scientifics, Inc. , which builds value in growth-stage technology and life sciences businesses and provides growth capital as well as a range of strategic, operational and management resources to its partner companies (www.safeguard.com). For more information, contact Michael Cavanaugh, Vice President Sales, Marketing, and Business Development at (609) 919-3400, email info@laureatepharma.com or visit www.laureatepharma.com.

CONTACT: Michael Cavanaugh, Vice President Sales, Marketing, and Business
Development of Laureate Pharma, Inc., +1-609-919-3400,
info@laureatepharma.com

Web site: http://www.laureatepharma.com//