Immunomedics Awarded Three Grants by NIH to Develop New Agents for Imaging and Therapy...

Immunomedics Awarded Three Grants by NIH to Develop New Agents for Imaging and
Therapy of Cancer

MORRIS PLAINS, N.J., Oct. 19, 2009 (GLOBE NEWSWIRE) -- Immunomedics, Inc.
(Nasdaq:IMMU), a biopharmaceutical company focused on developing monoclonal
antibodies to treat cancer and other serious diseases, today announced that it
has been awarded 3 Small Business Innovation Research (SBIR) grants by the
National Institutes of Health (NIH), totaling $2.1 million payable over a period
of 2 years. One of the awards can be extended to 3 years with a potential $2.5
million additional funding, if certain goals and milestones are met.

The first award is a Phase I grant for the development of a hematopoietic
tumor-targeting humanized antibody conjugated site-specifically with 4
interferon-a2b groups. This recombinant immunocytokine was created using the
patented Dock-and-Lock (DNL) method developed by scientists at Immunomedics and
its majority-owned subsidiary, IBC Pharmaceuticals, Inc. In preclinical studies,
this immunocytokine demonstrated very high anti-lymphoma efficacy.

The NIH has also awarded the Company a multiyear Phase II grant for the
development of F-18 labeled peptides for pretargeted positron-emission
tomography, or PET, imaging of pancreatic cancer. Due to the lack of early
detection and effective treatment, pancreatic cancer is the fourth leading cause
of cancer deaths in the United States. The Company recently reported a new
proprietary method of labeling peptides with F-18 for improved PET imaging. (For
more information, please refer to the Company's press release at
www.immunomedics.com/news_pdf/2009_PDF/PR06152009b.pdf.) Two U.S. patents have
been issued on this labeling method.

Another multiyear Phase II grant was awarded to support a clinical trial of
combined radio- and immunotherapy of aggressive non-Hodgkin's lymphoma (NHL).
Combining veltuzumab (humanized anti-CD20 antibody) with yttrium-90-labeled
epratuzumab (humanized anti-CD22 antibody) was found to improve treatment
responses in a human lymphoma model, and now will be tested in patients. (Please
refer to the Company's press release at
www.immunomedics.com/news_pdf/2008_PDF/PR04142008A.pdf for more information.)
This award can be renewed by NIH for 2 additional years if certain goals and
milestones are achieved during the first year.

"We are pleased to receive these grants from the NIH and we are proud that NIH
peer review has recognized the potential of our new technologies for improved
approaches to cancer imaging and therapy," commented Cynthia L. Sullivan,
President and CEO of Immunomedics.

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 139 patents issued in the
United States and more than 300 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.

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CONTACT: Immunomedics, Inc.
Dr. Chau Cheng, Associate Director, Investor Relations &
Business Analysis
(973) 605-8200, extension 123
ccheng@immunomedics.com