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IMMUNOMEDICS APPOINTS DAVID W. ORTLIEB PRESIDENT AND CEO

 IMMUNOMEDICS APPOINTS DAVID W. ORTLIEB PRESIDENT AND CEO
 MORRIS PLAINS, N.J., July 7 /PRNewswire/ -- Immunomedics, Inc. (NASDAQ: IMMU) today announced the appointment of David W. Ortlieb as the company's president and chief executive officer. Ortlieb will be responsible for the company's worldwide activities and, among other things, will oversee the refinement and execution of the company's strategic plan. The chief executive officer position was previously held by David M. Goldenberg, the company's founder, who will remain chairman of the board.
 Ortlieb has over 30 years of senior management experience in the pharmaceutical industry and, most recently, in biotechnology, as president and chief executive officer of Texas Biotechnology Corporation. His past pharmaceutical positions have included: corporate executive vice president and director of Abbott Laboratories; president, chief executive officer and director of Erbamont N.V.; and president and chief operating officer of American Optical Corporation. Ortlieb holds a doctorate (DBA) in business administration and economics from Indiana University. He has been a member of the board of directors of Immunomedics since November, 1991, and will retain this position.
 Commenting on the appointment, Goldenberg, chairman of the board indicated, "The breadth of Mr. Ortlieb's management and business expertise will be a tremendous asset as we approach product commercialization. It is with great confidence and pleasure that I turn over the responsibilities and title of chief executive officer to a person of Mr. Ortlieb's stature and reputation. Mr. Ortlieb's recruitment is very timely since the company is engaged in North American and European regulatory filings of its first cancer imaging product for colorectal cancer (ImmuRAID-CEA), and advancing its worldwide clinical trial activities. Mr. Ortlieb will be instrumental in establishing marketing and sales arrangements, including research collaborations, in key commercial markets," Goldberg added.
 Immunomedics is a biopharmaceutical company applying innovative technology in antibody selection, modification and chemistry to the development of products for the detection and treatment of cancers and infectious diseases. Integral to these products are highly specific monoclonal antibodies designed to deliver radioisotopes, chemotherapeutic agents or toxins to tumors and sites of infections or other diseases.
 -0- 7/7/92
 /CONTACT: Amy Factor of Immunomedics, 201-605-8200/
 (IMMU) CO: Immunomedics Inc. ST: New Jersey IN: MTC SU: PER


TS-SH -- NY011 -- 6905 07/07/92 10:01 EDT
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Publication:PR Newswire
Date:Jul 7, 1992
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