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Immunomedic Engages Lehman Brothers As Financial Advisor

MORRIS PLAINS, N.J., Nov. 26 /PRNewswire/ -- Immunomedics, Inc. (Nasdaq: IMMU) announced today that it has engaged the investment banking firm of Lehman Brothers to advise the company on financing, corporate licensing, and overall strategic planning. "We believe that Lehman Brothers' experienced team will assist us in developing better business opportunities with healthcare partners, as well as plan our overall business development as we begin commercializing our first approved product," commented Immunomedics' Chairman and CEO, Dr. David M. Goldenberg.

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 designed to deliver radioisotopes and chemotherapeutic agents to tumors and sites of infection or other diseases. The Company's first product, CEA-Scan(R) for detection of colorectal cancer, has been approved in both the U.S. and Europe. Mallinckrodt Group, Inc. and its European affiliate, Mallinckrodt Medical B.V., are assisting in the marketing of this important imaging agent. Immunomedics also has several other diagnostic imaging products and a therapeutic product in clinical development.

This news release contains forward-looking statements that involve risk and uncertainties. The development of the Company's imaging and therapeutic programs may differ materially from the Company's expectations. Among the factors that could result in a materially different outcome are the inherent uncertainties accompanying new product development, actions of regulatory authorities, and the results of further clinical trials.

SOURCE Immunomedics, Inc.
 -0- 11/26/96

/CONTACT: Paul M. Herron, Director of Finance, of Immunomedics, 201-605-8200/

/Immunomedics, Inc. press releases are available at no charge through PR Newswire's Company News On-Call fax service and on PRN's Web Site. For a menu of Immunomedics' press releases or to retrieve a specific release, call 800-758-5804, extension 113121, or on the Internet./


CO: Immunomedics, Inc.; Lehman Brothers ST: New Jersey IN: MTC SU:

GG-LI -- NYTU054 -- 4350 11/26/96 11:36 EST
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Publication:PR Newswire
Date:Nov 26, 1996
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