Immunovaccine and UConn Health Extend Collaboration to Support Advancement of Patient-Specific Immunotherapies to the Clinic

Achievement of Robust Preclinical
Milestones Underscores the Potential of DPX-NEO as a Crucial Enabling
Agent in Developing Personalized Neoepitope-based Cancer Treatments

Immunovaccine Inc. (“Immunovaccine” or the “Company”) (TSX:IMV)
(OTCQX:IMMVF), a clinical stage immunotherapy and vaccine company,
today announced an expansion of its ongoing collaboration with UConn
Health. The collaboration is part of Immunovaccine’s DPX-NEO program,
which is evaluating the anti-cancer activity of proprietary
patient-specific epitopes developed at UConn Health and formulated in
the Company’s DepoVax™-based vaccine formulation. Based on prior
preclinical and manufacturing milestones achieved in evaluating cancer
neoepitopes formulated in Immunovaccine’s proprietary delivery
formulation, Immunovaccine and UConn Health will begin working toward
DPX-NEO’s first clinical trial.

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.¹

“The
potential of neoepitope-based therapies to trigger anti-cancer immune
responses tailored to the unique biology of each patient’s disease could
be an oncology treatment game-changer,” said Frederic Ors, Immunovaccine’s Chief Executive Officer.
“Our successful preclinical work showed that the DPX-NEO delivery
formulation is poised to become a significant solution to the barriers
that have, thus far, hindered the deployment of these truly personalized
immunotherapies on a wide-scale basis. Namely, DPX-NEO’s intrinsic
mechanism of action has consistently demonstrated the ability to
generate long-lasting T cell responses, and efficiently accommodate a
large, diverse band of peptide targets, both of which may be crucial to
generating sustained, impactful anti-tumor activity.”

In previously announced preclinical research,
researchers from UConn found that neoepitopes formulated in
DepoVax-based vaccines demonstrated superior immunogenic activity over
other formulations in mouse tumor models. Researchers are preparing a
manuscript for submission to a peer-reviewed journal and will release
further data upon publication. Immunovaccine and UConn Health agreed
that these results provided a strong rationale for extending the
collaboration towards a clinical trial. In the anticipated Phase 1
study, UConn Health will use its proprietary technology to identify
patient-specific neoepitopes, which will be formulated in the DPX-NEO
delivery technology.

“The successful results from our work in
mouse models, combining our proprietary neoepitope selection process,
along with the DepoVax-based formulation technologies, strongly support
advancement into a clinical program. My colleagues and I look forward to
doing so,” 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.

Immunovaccine had also previously announced a breakthrough
in formulating multiple peptides in DepoVax formulations. The Company
has patented the technology, which allows for both a larger number, and a
broader potential range, of peptides into a single formulation as
compared to standard formulation technologies.

About DepoVax
The
technology underlying DepoVax formulations suspends active components
in an oil diluent that prevents their release at the site of injection.
This process forces immune cells to take up these components in an
active process, delivering them directly to immune organs such as the
lymph nodes. DepoVax formulations have undergone extensive testing in
more than 60 preclinical and seven clinical studies. In clinical trials,
these formulations have consistently demonstrated the ability to
generate robust T and B cell responses, and durable immune responses.

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 T cell activating cancer immunotherapies and infectious
disease vaccines based on DepoVax, the Company’s patented delivery
platform 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 1b study with Incyte Corporation
assessing lead cancer therapy, DPX-Survivac, as a combination therapy in
ovarian cancer. The Company is also exploring additional applications
of DepoVax™, including DPX-RSV, an innovative vaccine candidate for
respiratory syncytial virus (RSV), which has completed a Phase 1
clinical trial. Immunovaccine also has ongoing clinical projects to
assess the potential of DepoVax to address malaria and the Zika virus.
Connect at www.imvaccine.com.

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.

Contacts for Immunovaccine:

MEDIA
Mike Beyer, Sam Brown Inc.
T: (312) 961-2502 E: [email protected]

INVESTOR RELATIONS
Pierre Labbé, Chief Financial Officer
T: (902) 492-1819 E: [email protected]

Patti Bank, Managing Director, Westwicke Partners
O: (415) 513-1284
T: (415) 515-4572 E: [email protected]

REFERENCES

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

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