Immuron Ltd — Capital/Financing Update 2010

May 3, 2010

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ASX Release

Immuron Ltd ABN 80 063 114 045

IMMURON COMMENCES ‘GOLD STANDARD’ PRE-CLINICAL TRIALS FOR INFLUENZA PREVENTION PRODUCT

Corporate Details:

ASX Code: IMC

Directors

Chairman: Prof Colin Chapman Non-Executive Directors: Prof. Roy Robins-Browne Mr Simon Sallka Dr Elane Zelcer

Chief Executive Officer

4[th] May 2010, Melbourne and Sydney Australia: Immuron (ASX: IMC) has received approval to commence pre-clinical trials in ferrets for the Company’s influenza prevention antibodies at the CSIRO Australian Animal Health Laboratory (AAHL) in Geelong. The trials are expected to start in May/June 2010. This work follows on from the successful mouse model work announced in August 2009.

Protocols for four sets of experiments have been approved by the CSIRO AAHL Animal Ethics committee and are scheduled to be performed over the next six months. This series of placebo controlled experiments will test the efficacy of Immuron’s product as a human influenza preventative. The first indicative results are anticipated in July/August 2010. The results from the first trial will dictate the dose ranges used in the subsequent experiments thus providing a scientifically sound background for the dosing needed in human trials.

Dr Grant Rawlin

Major Shareholder Hadasit Medical Research 19.56%

The ferret model is accepted as the ‘Gold Standard’ animal model to explore a preventative treatment against human epidemic and pandemic influenza viruses including the H1N1 (“swine flu”) strain. Immuron expects the trials to mirror the successful mouse model work which has continued since last year. Additional research using the mouse model has confirmed that a single intranasal application of Immuron’s dairy-derived influenza antibodies is effective in treating an established influenza infection and when applied prophylactically provides 100% protection over four days and 80% protection over seven days.

In addition, the latest research has shown that the dosages needed to achieve these results are far lower than originally thought. These findings will assist in dose ranging for the future trials in ferrets and humans. If these results are consistently replicated in the clinic the data for the licensing package would become increasingly attractive due to a low cost-of-goods.

These trials are partially supported by the ARC Linkage grant won by the University of Melbourne and Immuron in late 2009 and are part of a joint program of work between Professor Lorena Brown of University of Melbourne’s Department of Microbiology and Immunology and Immuron Limited.

Contact Details:

Immuron Ltd Level 1 39 Leveson Street North Melbourne VIC 3051 Australia

Chief Executive Officer of Immuron, Dr Grant Rawlin, said “Success in the ferret model is acknowledged as highly significant by both international regulatory authorities and potential business partners as an indication of future success in the human clinical setting. If these trials are successful the Company intends to start clinical trials in humans this year. Successful results will also assist in progressing negotiations with potential partners to further develop this over-thecounter influenza prevention product.”

Tel: +61 (0)3 9018 4880 www.immuron.com

Influenza and Immuron’s Immunotherapy

Immuron’s unique product platform using dairy-derived polyclonal antibodies has already demonstrated that influenza specific antibodies can be created and successfully produced in large quantities. These antibodies have shown efficacy in both the prevention and treatment of influenza in mouse models to date. Key advantages for Immuron’s polyclonal antibodies are that they are likely to cope with the changing strains of influenza as the virus evolves and specific antibodies can be produced quickly and cheaply to deal with new influenza strains. This approach may provide a significant tool for individual and large-scale public health management of influenza in humans. It is anticipated that this product will be developed for over-the-counter (OTC) use as an addition to vaccination programs already in place. It is particularly suitable for children too young to receive conventional vaccinations and the elderly population who do not respond well to vaccinations. The product would have significant advantages over the use of antiviral agents due to the lack of need for daily administration and may be a preferred control measure against drug-resistant viruses.

About Immuron Limited

Immuron is a biopharmaceutical company focused on oral immunotherapy using dairy-derived polyclonal antibody products for humans. Current products target infectious diseases of the gastrointestinal tract, while more recent projects are targeting immunotherapy to influence chronic diseases such as HIV, Type 2 Diabetes and fatty liver (NASH), and to prevent and treat respiratory infection with influenza. Immuron’s main scientific alliances are with Hadassah Medical Center (Israel) and the University of Melbourne (Australia).

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Dr Grant Rawlin Chief Executive Officer

For more information please contact:

Company:

Grant Rawlin – Chief Executive Officer Immuron Ltd Tel: +61 3 9018 4880 Email: grant@immuron.com

Media Relations:

Fay Weston – Director Talk Biotech Pty Ltd Tel: +61 2 4885 2662 or +61 (0)422 206036 Email: fayweston@talkbiotech.com.au