Immunovaccine Inc.
TSX : IMV

Immunovaccine Inc.

April 16, 2015 17:05 ET

Immunovaccine Provides Corporate Update and AGM Results

HALIFAX, NOVA SCOTIA--(Marketwired - April 16, 2015) - Immunovaccine Inc. ("Immunovaccine" or the "Company") (TSX:IMV) is pleased to provide an update on recent clinical and preclinical research, corporate activities and the voting results of the annual and special meeting of shareholders of the Company.

Fred Ors joins Immunovaccine as Chief Business Officer

Frederic Ors joins Immunovaccine's senior management team in the newly created position of Chief Business Officer. Mr. Ors, 41, spent 13 years at Medicago Inc. in Quebec, most recently as Vice President of Business Development and Strategic Planning. He has been an integral part of Medicago's success in securing multiple non-dilutive funding opportunities, leading to an acquisition by Mitsubishi Pharma in 2013 for $357M. Before joining Medicago he was manager of intellectual property and licensing for Paris Diderot University, a complex of 150 labs, two hospitals and 2,300 scientists in Paris. He earned his bachelor's degree in biology and his master's in management of innovation projects in biotechnology at the University of Angers.

"I'm excited to join Immunovaccine in its current stage of development and help it grow by seizing the many opportunities ahead for commercial development of a revolutionary technology," said Mr. Ors.

Clinical Research Update

Immunovaccine continues to have an active clinical pipeline based on the DepoVax™ platform, in both cancer and infectious diseases. This progress is highlighted by DPX-Survivac, our lead cancer immunotherapy candidate, in which a Phase 2 clinical trial in lymphoma has recently been initiated. In addition, a Phase 2 study in ovarian cancer is also planned. These clinical trials follow positive safety and immunogenicity results from a Phase 1/1B study in ovarian cancer. The U.S. Food and Drug Administration (FDA) has granted DPX-Survivac a Fast Track designation as maintenance therapy in subjects with advanced ovarian, fallopian tube and peritoneal cancer who have no measurable disease following surgery and front-line chemotherapy. A Phase 1/2 with DPX-0907 in breast and ovarian cancer patients that was planned with Busto Arsizio Hospital in Italy will no longer proceed due to unforeseen extended delays at the clinical site. The Company will provide further updates on DPX-0907 in due course. DepoVax™ was selected as the underlying vaccine technology supporting a Phase 1B study in HPV-related cancers, funded through the Stand Up to Cancer (SU2C) and Farrah Fawcett Foundation (FFF). In addition, the Company plans to initiate its first Phase 1 clinical trial in infectious disease in 2015, a respiratory syncytial virus (RSV) vaccine being developed to protect the elderly population from infection.

Preclinical Research Update

The Company conducts innovative preclinical research to support its clinical pipeline. Through a long standing collaboration with the National Institutes of Health (NIH) the Company has conducted multiple animal studies supporting the development of both a novel vaccine for anthrax and Ebola virus disease. Due to a highly competitive landscape for Ebola vaccines and the early-stage nature of our Ebola vaccine development program, combined with a rapidly dwindling number of clinical cases in which to test innovative novel vaccine candidates, Immunovaccine determined it will no longer pursue the development of an Ebola virus vaccine for the time being. Immunovaccine continues to collaborate with the NIH to further advance a DepoVax™-based single dose rapid response anthrax vaccine.

Voting Results of Annual and Special Meeting of Shareholders of the Company

Immunovaccine also announces the voting results of the annual and special meeting (the "Meeting") of shareholders of the Company (the "Shareholders") held today in Halifax, Nova Scotia.

The Company is pleased to announce that all of the nominees listed in the management information circular dated March 20, 2015 (the "Circular") were elected as directors until the next annual meeting of Shareholders or until such person's successor is elected or appointed. Each of the directors was elected by a majority of the votes cast by Shareholders present at the Meeting on a show of hands. The votes represented by proxy in respect of the election of each director are as follows:

Nominee Votes
For
% of
Votes For
Votes
Withheld
% of Votes
Withheld
Non Vote
Wade K. Dawe 25,593,085 99.89 % 27,175 0.11 % 1,448,715
James Hall 25,593,095 99.89 % 27,165 0.11 % 1,448,715
Marc Mansour 25,593,260 99.89 % 27,000 0.11 % 1,448,715
Wayne Pisano 26,651,219 98.46 % 417,756 1.54 % -
Albert Scardino 25,593,260 99.89 % 27,000 0.11 % 1,448,715
Alfred Smithers 25,593,260 99.89 % 27,000 0.11 % 1,448,715
Bradley Thompson 25,571,760 99.81 % 48,500 0.19 % 1,448,715

The Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditor of the Company.

In addition, all other resolutions placed before the Meeting, including (i) a resolution approving amendments to the stock option plan of the Company and (ii) a resolution ratifying a new by-law of the Company relating to the advance notice of director nominations were approved by the Shareholders.

Please refer to the Circular available on SEDAR at www.sedar.com for more information on the business transacted at the Meeting. A report on voting results will also be filed on SEDAR.

About Immunovaccine

Immunovaccine Inc. develops cancer immunotherapies and infectious disease vaccines based on the Company's DepoVax platform, a patented formulation 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 2 study with its lead cancer vaccine therapy, DPX-Survivac, in recurrent lymphoma. DPX-Survivac is expected to enter additional Phase 2 clinical studies in ovarian cancer and glioblastoma (brain cancer). The Company is also advancing an infectious disease pipeline including innovative vaccines for respiratory syncytial virus (RSV), and anthrax.

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 except as required by law.

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