Immunovaccine Inc.

Immunovaccine Inc.

June 29, 2010 07:45 ET

Immunovaccine Signs Agreement With Oncothyreon To Develop Cancer Vaccine

HALIFAX, NOVA SCOTIA--(Marketwire - June 29, 2010) - Immunovaccine Inc. (TSX VENTURE:IMV) announced today the signing of a research agreement with Oncothyreon Inc. (NASDAQ:ONTY) to develop a potential therapeutic cancer vaccine. Under the agreement, Oncothyreon's ONT-10, a therapeutic vaccine product candidate, will be formulated in Immunovaccine's DepoVax™ delivery platform for preclinical testing.

Oncothyreon's ONT-10 is a synthetic MUC1-based liposomal glycolipopeptide cancer vaccine. Immunovaccine's DepoVax™ platform is a lipid in oil-depot vaccine delivery and enhancement technology. The goal of this collaboration is to evaluate the ability of this combined vaccine formulation to elicit strong and long lasting immune responses against a well known cancer-associated antigen.

"We are pleased to work with Immunovaccine to explore whether their DepoVax technology can further enhance the activity of our synthetic liposomal MUC1 vaccine in preclinical studies," said Dr. Scott Peterson, Oncothyreon's Vice President of Research and Development.

"Oncothyreon is recognized for developing innovative oncology immunotherapeutics and we are delighted to be collaborating with them to demonstrate how our DepoVax technology can maximize the immune activation potential of their vaccine candidate," said Dr. Marc Mansour, Immunovaccine's vice president of Research and Development.

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.

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