Immunomedics Announces Termination Of Epratuzumab Licensing Deal With UCB

(RTTNews) - Immunomedics, Inc., (IMMU) announced Friday the receipt of a notice from UCB terminating the May 2006 Development, Collaboration and License Agreement for epratuzumab for all non-cancer indications worldwide. Under the terms of the agreement, the companies will now begin the transition process in a timely and orderly fashion.

Cynthia Sullivan, President and Chief Executive Officer of Immunomedics, said, "The return of the worldwide rights of epratuzumab for all non-cancer indications allows us to examine all options to maximize its value, not only in oncology but also in autoimmune diseases. Epratuzumab is being studied in a Phase 3 clinical trial in pediatric patients with acute lymphoblastic leukemia sponsored by a European consortium, and Bayer has begun studying epratuzumab as a thorium-227-labeled antibody in patients with advanced non-Hodgkin lymphoma."

Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases.