MORRIS PLAINS, N.J., Aug. 10, 2010 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (Nasdaq:IMMU), a biopharmaceutical company focused on developing monoclonal antibodies to treat cancer and other serious diseases, today announced that additional claims for the patent family "Internalizing anti-CD74 antibodies and methods of use," were issued as U.S. Patent No. 7,772,373. The new patent, which will expire in March 2023, covers any humanized antibodies that compete for binding to CD74 with milatuzumab, or bind to the same epitope as milatuzumab.
CD74 is an attractive target for antibody therapy, because it is present in limited amounts in normal tissues but widely expressed by leukemias, lymphomas, the vast majority of multiple myeloma cases, and certain solid tumors. Milatuzumab is the first anti-CD74 antibody to have entered human testing for cancer therapy. Recent Company findings that CD74 is also present in the majority of gastrointestinal cancers may significantly broaden the use of milatuzumab in the treatment of cancer.
"We are pleased with these additional claims and believe this second patent further strengthens the Company's protection around the CD74 target," stated Cynthia L. Sullivan, President and CEO.
About Milatuzumab
Milatuzumab is a humanized anti-CD74 antibody constructed using the same constant regions of the heavy and light chains as epratuzumab, whose safety has been demonstrated in clinical trials of patients with B-cell malignancies and autoimmune disorders. Milatuzumab is being studied clinically for the treatment of multiple myeloma, non-Hodgkin's lymphoma, and chronic lymphocytic leukemia. CD74, also known as invariant chain, has been implicated in antigen processing, particularly by dendritic and other immune cells, but recently has also been disclosed as a survival factor for rapidly proliferating malignant cells. Milatuzumab is the first anti-CD74 antagonistic antibody to enter clinical trials.
About Immunomedics
Immunomedics is a New Jersey-based biopharmaceutical company primarily 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. We also have a majority ownership in IBC Pharmaceuticals, Inc., which is developing a novel Dock-and-Lock (DNL) methodology with us for making fusion proteins and multifunctional antibodies, and a new method of delivering imaging and therapeutic agents selectively to disease, especially different solid cancers (colorectal, lung, pancreas, etc.), by proprietary, antibody-based, pretargeting methods. We believe that our portfolio of intellectual property, which includes approximately 150 patents issued in the United States and more than 375 other patents issued worldwide, protects our product candidates and technologies. For additional information on us, please visit our website at www.immunomedics.com. The information on our website does not, however, form a part of this press release.
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 (including the timing and amount of contingent payments), forecasts of future operating results, 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), our dependence on our licensing partners for the further development of epratuzumab for autoimmune indications and veltuzumab for non-cancer indications, 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.
CONTACT: Immunomedics, Inc.
Dr. Chau Cheng, Director, Investor Relations & Grant Management
(973) 605-8200, extension 123
ccheng@immunomedics.com
