Immunovaccine to Present Clinical Data on its DPX-0907 Cancer Vaccine at the 2012 ASCO Annual Meeting

HALIFAX, NOVA SCOTIA--(Marketwire - May 29, 2012) - Immunovaccine Inc. ("Immunovaccine" or the "Company") (TSX VENTURE:IMV), a clinical stage vaccine company developing the patented DepoVax^™ vaccine adjuvanting platform and product candidates for cancer therapy and infectious diseases, today announced that Phase I clinical data for DPX-0907, a therapeutic cancer vaccine, will be presented in the Developmental Therapeutics - Clinical Pharmacology and Immunotherapy poster session at the American Society of Clinical Oncology (ASCO) 2012 Annual Meeting. The ASCO Annual Meeting will be held June 1 - 5, 2012, in Chicago.

The poster presentation will highlight data from the Company's completed Phase I clinical trial of DPX-0907 in patients with breast, ovarian and prostate cancers demonstrating that the cancer vaccine is well tolerated and can generate a targeted antigen-specific, poly-functional CD8 T-cell immune response.

Details of the poster presentation are as follows:

About Immunovaccine

Immunovaccine Inc. applies its novel vaccine delivery platform to the development of vaccines for cancer therapy and infectious diseases. The company's DepoVax™ platform is a patented lipid delivery system that presents antigens plus adjuvant to the immune system for a prolonged period and has the potential to enhance immune responses. Immunovaccine has advanced its platform technology and proprietary cancer vaccine into Phase I human clinical trials and has demonstrated both safety and immunogenicity potential. The Company is also capitalizing on the broad potential of its delivery platform by creating new DepoVax-based vaccines through multiple development collaborations. In addition to the Company's human health vaccine strategy, it continues to capture value from animal health vaccine applications. Immunovaccine has several key partnerships in the animal health sector including an agreement with Pfizer Animal Health, which has licensed the Company's delivery technology platform to develop vaccines for livestock. 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.