Halifax, Nova Scotia; May 28, 2012 – Immunovaccine Inc. (“Immunovaccine” or the “Company”) (TSX-V: IMV), a clinical stage vaccine company developing the patented DepoVax™ vaccine adjuvanting platform and product candidates for cancer therapy and infectious diseases, today announced the results of the Company’s Annual General Meeting (AGM) of shareholders held on May 24, 2012.
During the AGM, the shareholders elected Stephanie Léouzon as director. In conjunction with this appointment, Ms. Léouzon has been granted 50,000 stock options under Immunovaccine's Stock Option Plan, exercisable at a price equal to $0.295 per common share. The options have a term of five years and vest over a period of 18 months.
Additionally, shareholders re-elected William A. Cochrane, M.D., Wade K. Dawe, James W. Hall, Wayne Pisano, Bradley Thompson, Ph.D., John J. Trizzino and Albert Scardino to serve on the board of directors until the next annual meeting of shareholders. Mr. Scardino will also continue his duties as non-executive chairman of the board.
The shareholders approved all motions put forth at the meeting including the appointment of PriceWaterhouseCoopers LLP, Chartered Accountants, as the Company’s independent auditors.
Immunovaccine Inc. applies its novel vaccine delivery platform to the development of vaccines for cancer therapy and infectious diseases. The company’s DepoVax™ platform is a patented lipid delivery system that presents antigens plus adjuvant to the immune system for a prolonged period and has the potential to enhance immune responses. Immunovaccine has advanced its platform technology and proprietary cancer vaccine into Phase I human clinical trials and has demonstrated both safety and immunogenicity potential. The Company is also capitalizing on the broad potential of its delivery platform by creating new DepoVax-based vaccines through multiple development collaborations. In addition to the Company’s human health vaccine strategy, it continues to capture value from animal health vaccine applications. Immunovaccine has several key partnerships in the animal health sector including an agreement with Pfizer Animal Health, which has licensed the Company’s delivery technology platform to develop vaccines for livestock. 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.
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Kimberly Stephens, CFO, Immunovaccine Inc.
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Tim Brons, Vida Communication (media)
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Stephanie Diaz, Vida Communication (investors)
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