Immunovaccine Inc.

Immunovaccine Inc.

April 14, 2011 07:55 ET

Immunovaccine Announces Resignation of President and Chief Executive Officer

HALIFAX, NOVA SCOTIA--(Marketwire - April 14, 2011) - Immunovaccine Inc. (TSX VENTURE:IMV), a clinical stage vaccine developer, announced that Dr. Randal Chase resigned yesterday for personal reasons from the positions of President and Chief Executive Officer and, effective immediately, will no longer serve on Immunovaccine's Board of Directors. Dr. Chase, who has been an integral part of the Immunovaccine team since joining in August 2006, will remain as President and Chief Executive Officer until July 13, 2011. The Board of Directors will initiate an executive search for his replacement.

"On behalf of our Board and the management team, we wish Dr. Chase well in his future endeavors and thank him for his leadership and knowledge, for which Immunovaccine has benefited tremendously," said Mr. Michael Kirby, Chair of Immunovaccine's Board of Directors.

"With encouraging clinical data for its cancer vaccine candidates, I leave Immunovaccine in a strong position for growth and am happy to assist the Company during this transition period," said Dr. Chase.

Immunovaccine Inc. is focused on the commercialization of its patented DepoVax™ vaccine delivery platform and product candidates. Currently, the Company has developed two therapeutic cancer vaccine candidates for clinical trials. With the goal of developing premium therapeutic cancer and infectious disease vaccines, Immunovaccine continues to strengthen its vaccine pipeline through licensing and strategic partnerships with companies worldwide.

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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