Immunomedics Engages Greenhill & Co. as Strategic Advisor
October 24 2016 - 4:30PM
Immunomedics, Inc. (Nasdaq:IMMU) today announced that it has
engaged Greenhill & Co., Inc. (NYSE:GHL) to serve as a
strategic advisor primarily to assist in its ongoing efforts to
out-license sacituzumab govitecan (IMMU-132), the Company’s lead
investigational antibody-drug conjugate (ADC).
“The hiring of Greenhill is a testament of our
commitment to complete a licensing arrangement for IMMU-132, as
well as potentially other technology assets,” remarked Dr. David M.
Goldenberg, Chairman, Chief Scientific Officer and Chief Patent
Officer. “They will assist us in the review of our different
partnering structures for IMMU-132,” he added.
The Company also announced the advisory services
to the Chairman, provided by Dr. Sol J. Barer, have now ended. “I
want to thank Sol for his contribution in strengthening our
business and commercial development strategies, particularly in
recommending Greenhill to us,” Dr. Goldenberg added.
Updated results with sacituzumab govitecan
(IMMU-132) in patients with metastatic triple-negative breast
cancer have been submitted for publication in a peer-reviewed
medical journal. Presentations of results of sacituzumab govitecan
in other indications are also planned.
About Greenhill &
Co.Greenhill & Co., Inc., is a leading independent
investment bank entirely focused on providing financial advice on
significant mergers, acquisitions, restructurings, financings and
capital raising to corporations, partnerships, institutions and
governments globally. It acts for clients located throughout the
world from its offices in New York, Chicago, Dallas, Frankfurt,
Hong Kong, Houston, London, Melbourne, San Francisco, São Paulo,
Singapore, Stockholm, Sydney, Tokyo and Toronto.
About ImmunomedicsImmunomedics
is a clinical-stage biopharmaceutical company developing monoclonal
antibody-based products for the targeted treatment of cancer,
autoimmune disorders and other serious diseases. Immunomedics’
advanced proprietary technologies allow the Company to create
humanized antibodies that can be used either alone in unlabeled or
“naked” form, or conjugated with radioactive isotopes,
chemotherapeutics, cytokines or toxins. Using these technologies,
Immunomedics has built a pipeline of eight clinical-stage product
candidates. Immunomedics’ portfolio of investigational products
includes antibody-drug conjugates (ADCs) that are designed to
deliver a specific payload of a chemotherapeutic directly to the
tumor while reducing overall toxic effects that are usually found
with conventional administration of these chemotherapeutic agents.
Immunomedics’ most advanced ADCs are sacituzumab govitecan
(IMMU-132) and labetuzumab govitecan (IMMU-130), which are in Phase
2 trials for a number of solid tumors and metastatic colorectal
cancer, respectively. IMMU-132 has received Breakthrough Therapy
Designation from the FDA for the treatment of patients with
triple-negative breast cancer who have failed at least two prior
therapies for metastatic disease. Immunomedics has a research
collaboration with Bayer to study epratuzumab as a
thorium-227-labeled antibody. Immunomedics has other ongoing
collaborations in oncology with independent cancer study groups.
The IntreALL Inter-European study group is conducting a large,
randomized Phase 3 trial combining epratuzumab with chemotherapy in
children with relapsed acute lymphoblastic leukemia at clinical
sites in Australia, Europe, and Israel. Immunomedics also has a
number of other product candidates that target solid tumors and
hematologic malignancies, as well as other diseases, in various
stages of clinical and preclinical development. These include
combination therapies involving its antibody-drug conjugates,
bispecific antibodies targeting cancers and infectious diseases as
T-cell redirecting immunotherapies, as well as bispecific
antibodies for next-generation cancer and autoimmune disease
therapies, created using its patented DOCK-AND-LOCK® protein
conjugation technology. The Company believes that its portfolio of
intellectual property, which includes approximately 290 active
patents in the United States and more than 400 foreign patents,
protects its product candidates and technologies. For additional
information on the Company, please visit its website at
www.immunomedics.com. The information on its 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
(including the funding therefor, anticipated patient enrollment,
trial outcomes, timing or associated costs), regulatory
applications and related timelines, out-licensing arrangements
(including the timing and amount of contingent payments), forecasts
of future operating results, potential collaborations, 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, new product development (including clinical
trials outcome and regulatory requirements/actions), the Company’s
dependence on business collaborations in order to further develop
our products and finance our operations, the risk that we or any of
our collaborators may be unable to secure regulatory approval of
and market our drug candidates, risks associated with the outcome
of pending litigation and 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
Senior Director, Investor Relations & Corporate Secretary
(973) 605-8200, extension 123
ccheng@immunomedics.com
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