IMU Imugene Limited

Highlights:

• Biolife Science Qld Limited (Biolife) is a cancer immunotherapy company targeting HER-2 specific cancers, including gastric cancer and breast cancer
• The immunotherapy has the potential to be more effective than Herceptin®, a monoclonal antibody with 2012 sales of $6.4 billion which improves the survival rates of women with HER-2 positive breast cancer and prevents its recurrence
• Phase I human trials successfully completed and Phase II trials under an FDA Investigational New Drug Application (IND) to commence in 2015
• First target disease is gastric (stomach) cancer
• Over the past 10 years significant investment of ~$8 million
• Capital raising of $2.5 million to accompany the acquisition resulting in working capital of ~$3 million

Australian drug development and pharmaceutical company Imugene (ASX:IMU) is pleased to advise that, consistent with its strategy to diversify through acquisition, it has today executed a Sale and Purchase Agreement to acquire 100% of Biolife Science Qld Limited (Biolife), a company incorporated in Australia.

Biolife has the rights to a novel cancer immunotherapy platform that has been developed by scientists at the University Medical School in Austria. The scientists have developed a peptide-based immunotherapy that induces a polyclonal antibody response against HER-2/neu associated tumours, including breast cancer and gastric cancer (“HER-Vaxx”).

HER-2/neu is a known and validated receptor that is over-expressed on various cancerous tumours, including gastric, breast, ovarian and pancreatic cancers. Having already successfully completed a Phase I human study in breast cancer, a Phase II study in gastric cancer is planned to potentially commence in calendar 2015, subject to FDA approval.

Forrest Capital coordinated the acquisition and will be lead manager for the capital raise.

Key information on the Biolife technology, intellectual property, market potential and previous studies are included in a presentation and Q&A placed on the ASX website at:http://www.asx.com.au/asxpdf/20131023/pdf/42k77b8ttqdhsx.pdf

Imugene will, subject to Shareholder approval:

• Issue 300 million shares to purchase 100% of Biolife Science Qld Ltd.
• Raise an additional A$2.5 million via the placement of 250 million shares at $0.01. The placement will be managed by Forrest Capital, 85 million shares issued within current capacity with the balance subject to shareholder approval.
• Dr Axel Hoos current vice president, Oncology R&D at GlaxoSmithKline is expected to join the board as Non-Executive Director.

ImugeneDr Nick Ede, +61 400 642 254Executive Directornede[at]imugene.comorMedia:College HillDr. Douglas Pretsell, +61 3 9657 0706douglas.pretsell[at]collegehill.com

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