A glyco-engineered recombinant humanized monoclonal antibody directed against the human B-cell-specific cell surface antigen CD20, with potential antineoplastic and immunomodulating activities. Upon administration of anti-CD20 monoclonal antibody MIL62, the antibody specifically targets and binds to CD20. This induces antibody-dependent cell-mediated cytotoxicity (ADCC) against CD20-expressing B-cells, which leads to B-cell apoptosis and the inhibition of tumor cell proliferation. In addition, MIL62 inhibits CD20-mediated signaling which further induces apoptosis in and inhibits proliferation of CD20-expressing tumor cells. CD20, a non-glycosylated cell surface phosphoprotein that is exclusively expressed on B-cells during most stages of B-cell development, is often overexpressed in B-cell malignancies.