well, obviously investing in a biotech is risky...
interesting to invest in one that goes down on good news.... :(
jl
, March 11 -- Immunomedics Inc announced today the issuance of Japanese Patent No. 2,598,893, covering Specific CEA-Family Antigens, Antibodies "Specific Thereto and Their Methods of Use."
"This is a very important patent to our Company," commented Dr. David M. Goldenberg, Immunomedics' Chairman and CEO, and a co-inventor of the patent, "and we are delighted that after many years of prosecution of this application in Japan, the patent was awarded with an expiration in 2004." According to Dr. Goldenberg, the patent covers a class of highly specific antibodies to the tumor-associated marker, carcinoembryonic antigen (CEA), and their use for detecting the CEA-specific antigen in body fluids and tissues and for the imaging and treatment of cancers expressing this CEA. "CEA, first discovered in 1965, has been one of the most important blood tests for monitoring cancer since the mid-1970's, and is now used worldwide, especially in patients with gastrointestinal cancers, but is produced by more than 70% of all cancer types," Dr. Goldenberg commented. "This class of antibodies, first distinguished by us, is the basis of our cancer imaging and therapy products, such as CEA-Scan(R) used in the imaging of colorectal cancers."
The same patent has been issued in many other countries, including the United States and most European countries. Dr. Goldenberg stated, "This broad coverage enables us to seek licensees worldwide, and we have every intention to defend this patent from infringers."
Immunomedics is a biopharmaceutical company focused on the development, manufacture and commercialization of diagnostic imaging and therapeutic products for the detection and treatment of cancer and infectious diseases. Integral to these products are highly specific monoclonal antibodies and antibody fragments designed to deliver radioisotopes and chemotherapeutic agents to tumors and sites of infection. The Company's first product, CEA-Scan(R) for the detection of colorectal cancer, has been approved in both the U.S. and Europe and is being marketed by Mallinckrodt Group, Inc., and its
European affiliate, Mallinckrodt Medical, B.V. The Company's second diagnostic imaging product, LeukoScan(R), was approved recently in Europe for the diagnosis of osteomyelitis (bone infection). The Company also has filed an application for market approval of LeukoScan(R) in the United States with the Food and Drug administration. Immunomedics also has several other diagnostic imaging products and two therapeutic products in clinical trials.
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Use company code IMMU. |
