Immunomedics, Inc. (NASDAQ:IMMU) were fairly flat Thursday, after the company and Johnson Matthey announced the companies have expanded their long-term master supply agreement under which Johnson Matthey will continue to scale the manufacturing of Immunomedics' CL2A-SN-38.
The partnership, announced Wednesday, is a long-term master supply agreement under which Johnson Matthey will continue to scale the manufacturing of CL2A-SN-38, the drug-linker that is a key component of sacituzumab govitecan,
Immunomedics’ lead antibody-drug conjugate currently under priority review by the FDA for accelerated approval as a treatment for patients with metastatic triple-negative breast cancer. This is part of Immunomedics' ongoing commitment to invest in and scale its global supply capacity with world-class partners in each component of its supply-chain.
Said company official Morris Rosenberg, "We are significantly scaling our ongoing partnership with Johnson Matthey. This agreement signifies our continuing commitment to expand our supply-chain strategy as we look to broaden the applicability of sacituzumab govitecan to a multitude of solid cancer indications and expand it to other world markets."
IMMU’s flagship product, sacituzumab govitecan, is a novel, first-in-class antibody-drug conjugate. It is currently under priority review by the U.S. Food and Drug Administration for accelerated approval as a treatment of patients with metastatic triple-negative breast cancer who have received two prior therapies for metastatic disease
Immunomedics, based in Morris Plains, New Jersey, is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer. Immunomedics’ corporate objective is to become a fully-integrated biopharmaceutical company and a leader in the field of antibody-drug conjugates.
Shares eked up two cents, or 0.1%, to $16.80
