Neoepitope Peptides Formulated in Immunovaccine's DepoVax(TM) Vaccine Platform Show Significant Positive Results in Preclinical Studies

HALIFAX, NOVA SCOTIA--(Marketwired - Nov 3, 2016) - Immunovaccine Inc. ("Immunovaccine" or the "Company") (TSX:IMV)(OTCQX:IMMVF), a clinical stage vaccine and immunotherapy company, today announced positive results from preclinical studies completed in collaboration with UConn Health for Immunovaccine's DPX-NEO program, which is designed to develop patient-specific neoepitope immunotherapies.

Results from the first study using neoepitope formulated with the DepoVax™ platform in mouse tumor models have shown positive anti-cancer activity. Researchers are preparing a manuscript for submission to a peer-reviewed journal and will release further data upon publication.

"The performance of the DepoVax™-formulated neoepitopes has provided a solid demonstration of the platform's potential as an attractive candidate for personalized cancer immunotherapies. I look forward to planning with Immunovaccine the next steps of our collaboration, with the goal of advancing this program into clinical studies here at UConn Health," said Principal Investigator Pramod K. Srivastava, Ph.D., M.D., Professor of Immunology and Medicine, and Director, Carole and Ray Neag Comprehensive Cancer Center, University of Connecticut School of Medicine at UConn Health.

Epitopes are the part of the biological molecule that is the target of an immune response. Neoepitopes are the mutated proteins produced by a patient's own tumors. Neoepitope vaccines target these patient-specific proteins and have been called the next immunotherapy frontier.¹

In this preclinical program, researchers from UConn Health supplied multiple neoepitopes identified for their internal mouse tumor model to Immunovaccine. Immunovaccine formulated each of these peptides in its proprietary DepoVax™ platform and supplied the resulting vaccines to UConn Health. Researchers evaluated each vaccine for immunologic and anti-tumor activity.

"This study provides evidence that the DepoVax™ platform can serve as an optimal enabling formulation technology to deliver strong and sustained immune responses against tumors with neoepitopes, an approach that we believe is a promising option for advancing personalized cancer medicines," said Frederic Ors, Immunovaccine's Chief Executive Officer. "With our novel DepoVax™ platform and cost-effective, scaleable manufacturing capabilities, we believe Immunovaccine can play an important role advancing clinical progress for neoepitope therapies as this exciting field evolves."

Immunovaccine launched its DPX-NEO program earlier this year, announcing an initial collaboration with UConn Health.

About DepoVax™

DepoVax™ is a patented formulation that provides controlled and prolonged exposure of antigens plus adjuvant to the immune system, resulting in a strong, specific and sustained immune response with the potential for single-dose effectiveness. The DepoVax™ platform is flexible and can be used with a broad range of target antigens for preventative or therapeutic applications. The technology is designed to be commercially scalable, with the potential for years of shelf life stability. Fully synthetic, off-the-shelf DepoVax™-based vaccines are also relatively easy to manufacture, store, and administer. These characteristics enable Immunovaccine to pursue vaccine candidates in cancer, infectious diseases and other vaccine applications.

About Immunovaccine

Immunovaccine Inc. is a clinical-stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and infectious diseases. Immunovaccine develops cancer immunotherapies and infectious disease vaccines based on the Company's DepoVax™ platform, a patented delivery agent that provides controlled and prolonged exposure of antigens and adjuvant to the immune system. Immunovaccine has advanced two T cell activation therapies for cancer through Phase 1 human clinical trials and is currently conducting a Phase 1/1b study with Incyte Corporation assessing lead cancer therapy, DPX-Survivac, as part of a triple combination therapy in ovarian cancer, as well as a Phase 2 study in recurrent lymphoma. The Company is also advancing an infectious disease pipeline, including innovative vaccines for respiratory syncytial virus (RSV), and currently has clinical projects ongoing to assess the potential of DepoVax™ to address malaria and the Zika virus. Connect at www.imvaccine.com.

About UConn Health

UConn Health is an integrated academic medical center that is entering an era of unprecedented growth in all three areas of its mission: academics, research, and clinical care. Based in Farmington, Conn., UConn Health is home to the School of Medicine, School of Dental Medicine, John Dempsey Hospital, UConn Medical Group, UConn Health Partners, University Dentists and a thriving research enterprise.

Immunovaccine Forward-Looking Statements

This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law.

REFERENCES

¹Neoepitope Vaccines Next Immunotherapy Frontier Cancer Discov Published OnlineFirst December 28, 2015; doi:10.1158/2159-8290.CD-NB2015-179