ImmunoVaccine Inc. : Immunovaccine Reports Positive Results from Ongoing Study of DepoVax™-Based Anthrax Vaccines

Immunovaccine Reports Positive Results from Ongoing Study of DepoVax™-Based Anthrax Vaccines

•  Potential to Induce Toxin Neutralizing Antibodies With a Single Dose
  
• Shown to be Well-tolerated with No Safety Concerns in Non Human Primate Study

Halifax, Nova Scotia; January 3, 2013 - Immunovaccine Inc. ("Immunovaccine" or the
"Company") (TSX-V: IMV), a clinical stage vaccine company, today announced positive results
from an immunogenicity study that evaluated anthrax vaccines formulated in the Company's
DepoVax™ platform. This study is part of an ongoing bio-defense research program which
was initiated in February 2012 to utilize Immunovaccine's DepoVax™ adjuvanting technology in
advancing the development of next generation vaccines against the most threatening biological
agents. Study findings suggested that the DepoVax-based vaccines provided a more rapid and
long lasting immune response as compared to the licensed anthrax vaccine BioThrax™.

The study, which was conducted under the National Institute of Allergy and Infectious Diseases'
(NIAID) Preclinical Services Program, was designed to test multiple DepoVax-formulated
anthrax vaccines in non human primates, specifically examining immunogenicity and safety
after either one or two doses of the vaccine. Study investigators compared the DepoVax-based
vaccines to BioThrax, the only commercially available anthrax vaccine. BioThrax requires at
least two doses to produce immune responses in animal models.

Preliminary study findings include:

• A single dose of DepoVax-formulated anthrax vaccine produced sustained TNA (toxin-neutralizing antibody) titers detected in six of ten animals starting between day 21 and49. Animals receiving one dose of Biothrax had no detectable TNA titers.
• When a second dose of the DepoVax-formulated vaccine was delivered, there was a significant increase in anthrax TNAs in all immunized animals within one week of the booster administration.
• Vaccination with the DepoVax-formulated vaccines resulted in no visible injection site reactions. Detailed microscopic examination showed robust immune cell infiltration to the site of vaccination. There was no evidence of systemic or local safety issues.

"Particularly impressive about these findings is the demonstration that DepoVax-formulated
vaccines generate toxin neutralizing antibodies with one dose," said Dr. Marc Mansour, chief
science officer of Immunovaccine. "These findings suggest the potential for DepoVax to enable
the development of an effective and safe next generation anthrax vaccine."

More studies with NIAID Preclinical Services are planned to begin in early 2013. These will
examine the ability of neutralizing antibody responses induced by a DepoVax-based vaccine to
protect animals from challenge with anthrax.

The positive results from this immunogenicity study are consistent with previous research
conducted by Immunovaccine that demonstrated a DepoVax-based vaccine was able to raise
higher antibody levels, as compared to two doses of alum-adjuvanted control vaccines. The
persisting high antibody levels were induced within four weeks following a single dose of
anthrax antigen formulated within DepoVax.

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 capability for single-dose effectiveness. The DepoVax platform
possesses impressive flexibility, allowing it to work with a broad range of target antigens in
various therapeutic applications. The technology is also commercially scalable, with potential
for years of stability and ease of use in the clinic.

About Immunovaccine
Immunovaccine Inc. applies its novel adjuvanting platform to the development of vaccines for
cancer therapy, infectious diseases and animal health. The Company's DepoVax™ platform
is a patented formulation that provides controlled and prolonged exposure of antigens plus
adjuvant to the immune system. Immunovaccine has advanced two DepoVax-based cancer
vaccines into Phase I human clinical trials. The Company is also advancing a broad infectious
disease pipeline including vaccines in such indications as malaria, respiratory syncytial virus
(RSV) and anthrax. In addition to the Company's human health vaccine strategy, it continues
to capture value from animal health vaccine applications. Immunovaccine has key partnerships
in the animal health sector including an agreement with Pfizer Animal Health. Connect at
www.imvaccine.com.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.

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Contacts:
Dr. Marc Mansour, Chief Science Officer, Immunovaccine, Inc.
T: [phone] E: [e-mail]

Tim Brons, Vida Communication (media)
T: [phone] E : [e-mail]

Stephanie Diaz, Vida Communication (investors)
T: [phone] E : [e-mail]

Scott Koyich, Brisco Capital Partners (Canadian investors)
T : [phone] E : [e-mail]