ProteoNic Announces Licensing of Technology for Production of Biologics to Immunomedics

LEIDEN, Netherlands, Oct. 20, 2020 /PRNewswire/ -- ProteoNic BV, a leading provider of technology and services in the field of production of biologics, today announced it has licensed its premium 2G UNic™ technology for boosting therapeutic protein production to Immunomedics, Inc. (NASDAQ: IMMU), a biopharmaceutical company developing immuno-therapeutics for the treatment of cancer and other diseases.

Under the agreement, Immunomedics gains commercial rights for application of ProteoNic's technology platform to the development of specified proprietary products from mammalian cells. Financial details of the agreement were not disclosed.

ProteoNic's protein expression technology improves production levels across a range of host cells, selection systems and protein targets. It increases transcription and translation rates via a combination of novel genetic elements, which together exert a powerful positive effect on recombinant protein production levels without impacting product quality or cell line stability attributes. 2G UNic™ can be readily combined with other protein expression-enhancing technologies to improve their performance.

Mark Posno, Vice President of Business Development of ProteoNic commented: "We are pleased that we can contribute to improving the efficiency of production of Immunomedics' antibody-based products. ProteoNic's clients consistently achieve strongly increased cell line productivity and reduced manufacturing cost. We will continue our work towards reaching the maximum potential of the production of biologicals for current and future clients."

About ProteoNic

ProteoNic is a privately held company with offices in Leiden, the Netherlands and in the Boston area, USA. The company offers technology and services for the generation of cell lines with greatly improved biologics production characteristics, including production levels and stability. The company commercializes its proprietary 2G UNic™ technology through licensing and partnership arrangements. For more information, see www.proteonic.nl.

For more information please contact:

ProteoNic BV

Mark Posno, PhDVice President Business DevelopmentT: +1-617-480-8016 E: [email protected]

LifeSpring LifeSciences Communication, Amsterdam, the Netherlands

Leon Melens T: +31-6-538-16427 E: [email protected]

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SOURCE ProteoNic