An immunoconjugate comprising an antibody or antigen-binding fragment thereof that binds matriptase in a form selectively expressed on cancer cells, said antibody or fragment covalently linked to a chemotherapeutic agent, wherein said antibody or fragment binds a complex between activated matriptase and its inhibitor HAI-1, wherein said antibody is M69 or an antigen binding fragment thereof, or is a chimeric antibody that comprises the variable regions of M69, or is a humanized antibody that comprises the variable regions of M69.