NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Immunovaccine Inc. ("Immunovaccine" or "IMV") (TSX VENTURE:IMV), a clinical
stage vaccine company, announced an update for the private placement of its
securities which is scheduled to close this week. Terms of the previously
announced private placement have been modified such that investors will receive
one common share at a price of $0.33. The private placement will be for up to
6,060,606 common shares and the total amount raised will be up to $2 million. As
previously announced, Immunovaccine has a lead order as well as commitments for
participation from directors of IMV.


The net proceeds from the financing are intended to fund preclinical research
and development efforts in the areas of infectious diseases, including
respiratory syncytial virus ("RSV"), malaria and anthrax. These ongoing efforts
will support the company's Phase I clinical trials for these infectious diseases
programs. The funding will also support preparatory work to advance IMV's
clinical stage oncology program, DPX-Survivac, into Phase II development, as
well as ongoing efforts to establish alliances, collaborations and strategic
transactions with parties including government entities, academic medical
centers and other companies in order to secure additional financing to advance
its current clinical programs and to expand its pipeline of strategic assets. 


The transaction is subject to the receipt of all necessary regulatory and stock
exchange approvals.


The securities described herein have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws, and accordingly, may not be offered or sold
within the United States except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an
offer to sell or a solicitation to buy any securities in any jurisdiction.


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-based cancer vaccines into Phase
I human clinical trials. The Company is also advancing a broad infectious
disease 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 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, including information regarding the offering,
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 relating to the financing, and 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. 


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


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


Vida Strategic Partners (investors)
Stephanie Diaz
(415) 675-7401
sdiaz@vidasp.com


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