MORRIS PLAINS, N.J., Dec. 7 /PRNewswire-FirstCall/ -- Immunomedics, Inc. , a leading biopharmaceutical company focused on developing monoclonal antibodies, today announced that stockholders of the Company, at its 22nd annual meeting, approved resolutions to elect all eight nominees to serve as directors of the Company until the next annual meeting, and to ratify the selection of Ernst & Young as the Company’s independent registered public accounting firm for the current fiscal year.
“This past year was one of significant accomplishments for Immunomedics, demonstrated by the fact that we received Fast Track designation by FDA for epratuzumab in the lupus indication, we developed and submitted protocols and other regulatory documents in the US and Europe, and we received approval to begin our Phase III ALLEVIATE trials evaluating epratuzumab as a potential therapeutic for patients with lupus. For the first time in the Company’s history, we are in the final phase of clinical development with a potential therapeutic in a disease with a high-unmet medical need. The ALLEVIATE trials have also elevated us to a late-stage development company,” remarked Cynthia L. Sullivan, President and Chief Executive Officer. “Our top priorities are to consummate a worldwide agreement for the final clinical development and commercialization of epratuzumab in all indications, and to continue patient enrollment in these trials,” Ms. Sullivan further remarked.
About Immunomedics
Immunomedics is a New Jersey-based biopharmaceutical company 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 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. Our lead product candidate, epratuzumab, is currently in two pivotal Phase III trials for the treatment of patients with moderate and severe lupus (ALLEVIATE A and B). At present, there is no cure for lupus and no new lupus drug has been approved in the U.S. in the last 40 years. We believe that our portfolio of intellectual property, which includes approximately 90 patents issued in the United States, and more than 250 other issued patents worldwide, protects our product candidates and technologies. Visit our web site at http://www.immunomedics.com.
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, 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 new product development (including clinical trials outcome and regulatory requirements/actions), 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.
For More Information: Dr. Chau Cheng Associate Director, Investor Relations & Business Analysis (973) 605-8200, extension 123 ccheng@immunomedics.com
Immunomedics, Inc.
CONTACT: Dr. Chau Cheng, Associate Director, Investor Relations & BusinessAnalysis of Immunomedics, Inc., +1-973-605-8200 ext 123, orccheng@immunomedics.com
Web site: http://www.Immunomedics.com/
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