Immunovaccine Provides Corporate Update

HALIFAX, NOVA SCOTIA -- (MARKET WIRE) -- 02/10/11 -- Immunovaccine Inc. (TSX VENTURE: IMV), a clinical-stage vaccine development Company, is pleased to provide an update on corporate activities.

Enrolment Complete for Phase I DPX-0907 Clinical Trial

Immunovaccine has announced today that it has competed enrolment for its Phase I clinical trial with DPX-0907. DPX-0907 is a therapeutic cancer vaccine treating patients with breast, ovarian and prostate cancers. A total of 23 patients are enrolled in the study and all have received three subcutaneous injections, three weeks apart.

For the first time, in December 2010, Immunovaccine completed a preliminary clinical evaluation of DPX-0907 at both 0.25mL and 1mL dose levels. Preliminary results show that DPX-0907 is well tolerated and safe. Additional safety and immune response data will become available in the second quarter of 2011.

Positive Preclinical Results for DPX-Survivac

Immunovaccine has achieved positive preclinical results for DPX-Survivac. The preclinical study demonstrates that DepoVax™ gives DPX-Survivac an advantage by raising a significantly higher immune response compared to a control formulation previously used in clinical trials. DPX-Survivac is a therapeutic cancer vaccine designed to target ovarian cancer. DPX-Survivac contains survivin antigens, in-licensed from Merck KGaA. Survivin is a tumor-associated antigen over-expressed in ovarian cancer cells, as well as nine other cancer indications, making it a viable target for immunotherapy. The patented DepoVax platform is a lipid depot-based vaccine delivery and enhancement technology that presents the antigens and adjuvant to the immune system for a prolonged period, and has the potential to enhance the immune response.

Immunovaccine continues to optimize DPX-Survivac and its clinical development is on track to support a potential future investigational new drug (IND) regulatory filing with the FDA. Preliminary safety assessments indicate that the vaccine was well tolerated when administered in animal models.

Immunovaccine to Present at BIO CEO & Investor Conference

Immunovaccine's President and CEO, Dr. Randal Chase, has been invited to present at the 2011 BIO CEO & Investor Conference on Monday, February 14, 2011 at 10:30 am EST at the Waldorf-Astoria in New York. Dr. Chase will provide an overview of the company, including an update on the Company's clinical pipeline. For more information visit

Dr. Randal Chase was also an expert panelist at the Sachs 4th Annual European Life Sciences Forum, on January 25, 2011 in Zurich, Switzerland. The conference is recognized as the leading international stage for those interested in investing in the life science and biotech industries.

Chamber of Commerce Recognizes Immunovaccine as Business of the Year

On January 27, 2011, the Halifax Chamber of Commerce acknowledged the innovation and business acumen of Immunovaccine Inc. by recognizing the company with a bronze award for Business of the Year. With more than 60 nominations assessed, it is an honour to be recognized and Immunovaccine congratulates all the finalists who exemplify the best of business in Halifax.

Annual General Meeting (AGM)

Immunovaccine's 2011 Annual General Meeting will be held on June 22, 2011 at 12:30 p.m. AST at the Delta Halifax Hotel, 1990 Barrington Street, Halifax, Nova Scotia. Information for the AGM, including the December 31, 2010 year-end financials, will be disseminated in April 2011.

About Immunovaccine

Immunovaccine Inc. (TSX VENTURE: IMV) is a clinical stage vaccine development company focused on the commercialization of its patented DepoVax™ vaccine delivery technology and product candidates. The company continues to strengthen its vaccine pipeline through licensing and strategic partnerships to develop therapeutic cancer and infectious disease vaccines.

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.

Immunovaccine Inc.
Marc Mansour
Vice President of Research and Development
(902) 492-1819

Immunovaccine Inc.
Jennifer Ayotte
Director Communications
(902) 492-1819

Tiberend Strategic Advisors, Inc.
Andrew Mielach
(212) 827-0020

Source: Immunovaccine Inc.