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| |  CEA-Scan Colorectal Cancer Detection Agent Now Available in Europe MORRIS PLAINS, N.J., and ST. LOUIS, Oct. 4, 1996 -- Immunomedics, Inc. (Nasdaq: IMMU), together with Mallinckrodt Group Inc. (NYSE: MKG), today announced final clearance has been received from the European Commission ("EC") to market CEA-Scan(R) (Arcitumomab). This clearance allows the product to be marketed for colorectal cancer detection in all 15 countries comprising the European Union. The product is already licensed for use in the U.S. Colorectal cancer is the third leading cancer killer in the Western World. Each year there are approximately 175,000 new cases of colorectal cancer in Europe and the disease is estimated to kill over 100,000 Europeans annually. "We are excited to move ahead with our strategy of selling this product on both sides of the Atlantic," said Dr. David M. Goldenberg, chairman of Immunomedics, Inc. "We look forward to combining our efforts with Mallinckrodt to seize the opportunity we believe exists for this unique cancer imaging agent." The product provides additional information in patients with no evidence of disease by standard diagnostic methods currently available, and in whom there is a suspicion of cancer recurrence or spread. "By identifying about 40% more patients who are operable for potential cure, CEA-Scan may offer hope to some patients. Moreover, by identifying about twice as many patients for whom surgical removal would be fruitless, these patients will not be operated on, will not suffer the effects of surgery, and the health care system will not have to bear the cost," stated Philippe Barzin, General Manager of Immunomedics B.V., the Company's European subsidiary located in Petten, The Netherlands. David Morra, president of the Nuclear Medicine Division of Mallinckrodt Group, said, "We share Immunomedics' excitement over the clearance of CEA-Scan in Europe, and we are eager to launch and market the product throughout Europe. Oncology is a significant area of focus for Mallinckrodt's nuclear medicine division, and CEA-Scan is an important addition to our product portfolio in the United States and Europe." Mallinckrodt is a dynamic, international growth company serving specialty markets in human healthcare and chemicals. Dedicated to improving healthcare and chemistry, the company is a major producer of diagnostic imaging agents, medical devices, pain relief pharmaceuticals, catalysts, and laboratory and microelectronic chemicals. The St. Louis, Missouri-based company, with fiscal 1996 net sales of $2.2 billion, sells more than 2,000 products in more than 100 countries. Mallinckrodt employs about 10,400 people worldwide. The Mallinckrodt web site address is www.mallinckrodt.com. 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 infectious disease imaging agent, LeukoScan(R), is undergoing regulatory review in Europe for imaging osteomyelitis (bone infections), and an application is being prepared for filing with the FDA. Immunomedics also has several other diagnostic imaging products and a therapeutic product in clinical trials. 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.
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