Immunovaccine Inc. ("Immunovaccine" or "IMV") (TSX VENTURE:IMV), a clinical
stage vaccine company, today released its financial and operational results for
the quarter ended March 31, 2013.


John Trizzino, CEO of Immunovaccine, commented,

"Immunovaccine has delivered on its most important milestones by advancing the
clinical development of our DepoVax(TM) technology platform in two cancer
vaccine programs. We have also received Canadian government support to prepare
our first human trials in an infectious disease. 


"The pharmaceutical industry has begun to recognize the value of cancer vaccines
as an important defense against many cancer types. Late stage trials in other
companies suggest that vaccines can boost the immune response in many patients
to help prevent recurrence of cancers, taking us closer to the goal of turning
cancer into a manageable, long-term illness instead of a life-threatening
disease. 


"The scientific community is particularly enthusiastic about the promise shown
by combining vaccines with other existing immune-boosting therapies, the
approach we have employed in our latest study on ovarian cancer. The data from
that trial was released in January.


"DPX-Survivac has helped establish Immunovaccine as one of the key players in
the increasingly exciting area of cancer immunotherapy. This position of
industry leadership is critical as cancer vaccines are being recognized more and
more as an important defense against many cancer types. We are strongly
positioned to both drive and benefit from the activity in this space based on
the highly differentiated immune boosting and combination therapy performance
attributes of DPX-0907 and DPX-Survivac." 


He also added, "Importantly, the success of our cancer vaccine programs also
validates the broader DepoVax(TM) technology platform, helping to generate
visibility and momentum for our vaccine candidates in infectious diseases,
bio-defense, addiction medicine and animal health." 


Highlights of the First Quarter 2013 and Subsequent to Quarter End:



--  Announced positive Phase I clinical data showing that DPX-Survivac
    produced sustained and dose-related immune responses for the treatment
    of ovarian cancer. These results showed a targeted immune response in
    all patients treated with the vaccine therapy. Importantly, the trial
    identified a treatment that consistently produced strong CD8 T cell
    responses that were clearly detected in the circulation of the
    vaccinated patients. The fact that DPX-Survivac can generate and
    maintain this response is strong evidence to support continued
    advancement of this candidate.

--  Signed an investigator-initiated study agreement for a Phase I/II trial
    of DPX-0907 in breast and ovarian cancer. The trial will be conducted at
    the Busto Arsizio Hospital in Italy with Marco Bregni, M.D., head of the
    hospital's Oncology Unit, serving as the study's principal investigator.
    Immunovaccine expects the Phase I/II study to be initiated during the
    fourth quarter of 2013. The study agreement provides critical non-
    dilutive funding for Immunovaccine's ongoing advancement of its clinical
    stage DPX-0907 cancer vaccine program. 

--  Reported positive preclinical data for DepoVax(TM)-formulated anthrax
    vaccines developed in collaboration with the National Institutes of
    Health (NIH). Study findings suggested that the DepoVax(TM)-based
    vaccines provided a more rapid and long lasting immune response as
    compared to the licensed anthrax vaccine BioThrax(TM). This
    immunogenicity study is part of an ongoing bio-defense research program
    being conducted in partnership with NIH. 

--  Received up to $407,700 in Industrial Research Assistance Program (IRAP)
    funding to support the development of a respiratory syncytial virus
    (RSV) vaccine formulated with DepoVax(TM). RSV is a common lung disease
    in children, the elderly and patients with a compromised immune system.
    The funding will be used to advance Immunovaccine's RSV program,
    including the formulation of RSV antigens in the Company's patented
    DepoVax(TM) vaccine-adjuvanting technology. 

--  Completed a private placement of its securities which raised gross
    proceeds of $1.6 million. Proceeds from the financing are being used to
    fund preclinical research and development efforts in the areas of
    infectious diseases, including RSV, malaria and anthrax. The proceeds
    are also supporting preparatory work to advance Immunovaccine's clinical
    stage DPX-Survivac oncology program into Phase II development, as well
    as ongoing efforts to establish key alliances, collaborations and
    strategic transactions. 



Q1 2013 Financial Results

The Company prepares its unaudited interim condensed consolidated financial
statements in accordance with Canadian generally accepted accounting principles
as set out in the Handbook of the Canadian Institute of Chartered Accountants -
Part I ("CICA Handbook"), which incorporates International Financial Reporting
Standards ("IFRS") as issued by the International Accounting Standards Board
("IASB"). 


The Company's net loss for the period increased from a loss of $1.4 million
during the quarter ended March 31, 2012 to a loss of $1.6 million during the
quarter ended March 31, 2013. This relates mainly to a $308,000 decrease in
government loans and assistance.


For the quarter ended March 31, 2013, the Company reported total R&D expenses of
$839,000, less government loans and assistance of $41,000 and investment tax
credits of $70,000. This represented a $181,000 increase of net R&D expenses
over the three months ended March 31, 2012. G&A expenses of $614,000 were
reported for Q1 Fiscal 2013 compared to $567,000 for the three months ended
March 31, 2012, an overall increase of $47,000. Total business development
expenses of $221,000 in Q1 Fiscal 2013 represented a decrease of $24,000
compared to the three months ended March 31, 2012.


At March 31, 2013, Immunovaccine had cash and cash equivalents of $2.5 million
and working capital of $2.1 million as compared to $2.0 million in cash and $2.1
million in working capital at December 31, 2012. 


As of March 31, 2013, the number of issued and outstanding common shares was
68,412,996. On March 31, 2013, the number of stock options outstanding was
5,229,650 and the number of outstanding warrants was 3,732,550.


Immunovaccine's unaudited interim condensed consolidated financial statements
for March 31, 2013, filed in accordance with IFRS, and the management discussion
and analysis (MD&A), are available at www.sedar.com.


About Immunovaccine

Immunovaccine Inc. applies its novel adjuvanting platform to the development of
vaccines for cancer therapy, infectious diseases and animal health. The
Company's DepoVax(TM) platform is a patented formulation that provides
controlled and prolonged exposure of antigens plus adjuvant to the immune
system. Immunovaccine has advanced two DepoVax(TM)-based cancer vaccines into
Phase I human clinical trials. The Company is also advancing a broad infectious
diseases pipeline including vaccines in such indications as malaria, respiratory
syncytial virus (RSV) and anthrax. In addition to the Company's human health
vaccine strategy, it continues to capture value from animal health vaccine
applications. Immunovaccine has key partnerships in the animal health sector
including an agreement with Zoetis (formerly Pfizer Animal Health). 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Immunovaccine Inc.
Kimberly Stephens
CFO
(902) 492-1819
info@imvaccine.com


Vida Strategic Partners (media)
Tim Brons
(415) 675-7402
tbrons@vidasp.com


Brisco Capital Partners (Canadian investors)
Scott Koyich
(403) 262-9888
skoyich@briscocapital.com
www.imvaccine.com