Immunomedics Awarded U.S. Patent for Internalizing Anti-CD74 Antibodies and Methods...

Immunomedics Awarded U.S. Patent for Internalizing Anti-CD74 Antibodies and
Methods of Use

MORRIS PLAINS, N.J., Jan. 8, 2008 (PRIME NEWSWIRE) -- Immunomedics, Inc.
(Nasdaq:IMMU), a biopharmaceutical company focused on developing monoclonal
antibodies to treat cancer and other serious diseases, today announced that its
patent application for "Internalizing anti-CD74 antibodies and methods of use"
has been issued as U.S. patent no. 7,312,318. The patent covers the composition
of matter for humanized, chimeric and human anti-CD74 antibodies, CD74 antibody
fusion proteins, immunoconjugates, vaccines and bispecific antibodies that bind
to CD74, the major histocompatibility complex (MHC) class-II invariant chain,
Ii, which is potentially useful for the treatment and diagnosis of B-cell
disorders, such as B-cell malignancies, other malignancies in which the cells
are reactive with CD74, and autoimmune diseases, and methods of treatment and
diagnosis.

The Company's lead anti-CD74 product candidate, milatuzumab, is a humanized
antibody currently in Phase I/II studies for patients with multiple myeloma who
have failed at least two prior standard systemic anti-myeloma treatment
regimens. In addition, John P Leonard, MD, Weill Cornell Medical, is conducting
a Phase I, open-label study in patients with recurrent non-Hodgkin's lymphoma or
chronic lymphocytic leukemia funded in part by a grant from the National Cancer
Institute.

"We believe this is a comprehensive patent protection around the CD74 target.
Milatuzumab has shown in preclinical studies the ability to inhibit the growth
of human multiple myeloma and lymphoma cells in culture and in immune-depressed
mice. Our goal is to conjugate milatuzumab with a drug or toxin to fully take
advantage of the rapidly internalizing property of the CD74 antigen," commented
Cynthia L. Sullivan, President and CEO.

The preclinical evaluations of milatuzumab and its isotope, drug, and toxin
conjugates have been summarized by R. Stein, M.J. Mattes, T.M. Cardillo, H. J.
Hansen, C.H. Chang, J. Burton, S. Govindan and D.M. Goldenberg, in a review
published in the September 15, 2007 issue of Clinical Cancer Research entitled
"CD74: a new candidate target for the immunotherapy of B-cell neoplasms."

Milatuzumab was also found to block the overexpression of CD74 in chronic
lymphocytic leukemia cells, which led to increased cell death. Results from this
study were published in the August 14, 2007, issue of the Proceedings of the
National Academy of Sciences of the USA, entitled "IL-8 secreted in a macrophage
migration-inhibitory factor- and CD74-dependent manner regulates B cell chronic
lymphocytic leukemia survival," by I. Binsky, M. Haran, D. Starlets, Y. Gore, F.
Lantner, N. Harpaz, L. Leng, D.M. Goldenberg, L. Shvidel, A. Berrebi, R. Bucala
and I. Shachar.

About Milatuzumab

Milatuzumab is a humanized anti-CD74 antibody constructed using the same human
backbone as epratuzumab, whose safety has been demonstrated in clinical trials
of patients with B-cell malignancies and autoimmune disorders. Milatuzumab is
being studied for the treatment of multiple myeloma, non-Hodgkin's lymphoma, and
chronic lymphocytic leukemia.

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. We have exclusively licensed our lead product candidate, epratuzumab, to
UCB (www.ucb-group.com) for the treatment of all autoimmune disease indications
worldwide. Epratuzumab's most advanced program is for the treatment of systemic
lupus erythematosus (SLE). 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 have retained
the rights for epratuzumab in oncology indications for which UCB has been
granted a buy-in option. The Company is conducting clinical trials with
veltuzumab in patients with non-Hodgkin's lymphoma, epratuzumab as a potential
therapeutic for patients with lymphoma and leukemia, 90Y-epratuzumab for the
therapy of patients with lymphoma, 90Y-hPAM4 for pancreas cancer therapy and
milatuzumab as a therapy for patients with multiple myeloma. We believe that our
portfolio of intellectual property, which includes approximately 108 patents
issued in the United States, and more than 250 other issued patents worldwide,
protects our product candidates and technologies. We also have a majority
ownership in IBC Pharmaceuticals, Inc., which is developing a novel
Dock-and-Lock (DNL) methodology, 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. For additional information on us, please visit our web site at
http://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, patent
protection, 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 partner for the further
development of epratuzumab for autoimmune 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