Immunovaccine Announces Transition of Chief Financial Officer Role

HALIFAX, NOVA SCOTIA--(Marketwired - Oct. 3, 2016) - Immunovaccine Inc. ("Immunovaccine" or the "company") (TSX:IMV)(OTCQX:IMMVF), a clinical stage vaccine and immunotherapy company, today announced that Chief Financial Officer (CFO) Kimberly Stephens is departing the company. The Immunovaccine management team, in conjunction with the company's Board of Directors, has begun the process of hiring a new CFO. Ms. Stephens will continue to work with Immunovaccine through December 2016 while the company transitions her successor into the position. Ms. Stephens has accepted a new CFO role at Appili Therapeutics Inc., an anti-infective pharmaceutical development company.

"On behalf of all Immunovaccine employees and our Board of Directors, I would like to thank Kimberly for her significant contributions to our company. She has been a valued member of our leadership team for the past five years," said Frederic Ors, Chief Executive Officer. "In particular, Kimberly has been a driving force in building a strong financial infrastructure that positions Immunovaccine well for its next stage of growth. We are grateful to Kimberly for her dedicated years of service, and we wish her the best in her new position."

Immunovaccine has a detailed plan in place to facilitate the transition from Ms. Stephens and her successor. Currently, leadership is evaluating CFO candidates with an emphasis on preparing for Immunovaccine's near-term growth opportunities.

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

Forward-looking Statement

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 and the matters discussed under "Risk Factors and Uncertainties" in Immunovaccine's Annual Information Form filed on March 29, 2016. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law.