Immuron Ltd — Investor Presentation 2008

Oct 26, 2008

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(ASX:ANX; ADR: ANDIY)

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Oral Immunotherapy

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October 2008

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F orwar d L oo ki St a emen s t t ng

This presentation contains forward-looking statements which are subject to risks and uncertainties. These statements include those regarding the therapeutic and commercial potential of Anadis technologies and products in development and commercialization.

Any statement describing the company goals , expectations , intentions or beliefs is a forward-looking statement and should be considered an “at-risk statement”. Such statements involve known and unknown risks and im ortant factors that ma cause the actual p y results, performance or achievements to be different from the statements in this presentation.

Actual results could differ materially depending on a number of factors including, but are not limited to, results of studies and trials, the timing and effects of regulatory actions, ability to penetrate markets , the strength of competition and the effectiveness of patent protection.

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Com an Mission p y

To become a world leader in oral thera of py infectious and chronic immune- mediated diseases, usin g antibodies harvested from hyper-immunized dairy cattle that have been vaccinated with proprietary vaccines .

� These “safe as milk” antibodies rovide immediate p acting immune benefit at the mucosal surface to both . prevent and treat disease and can be used broadly

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S ummay

Proven & Novel Th tic nA tibod fact i l tform erapeu y manu ur ng p a � Proprietary vaccine technology generates high antibody titers - � All natural antibodies processed for oral administration � Clinical studies and development involves top scientists � High safety profile, low manufacturing cost � R ap id commerc a i li za ti on cyc e as me l “ di ca l f oo d” no t d rugs � One product already in market as proof of concept � Huge arget t market & sa es wl ithin -2 3 years (Li cens ng + i Royalty on sales business model allows rapid growth) � Cancer therapy-related Mucositis � HIV/AIDS � Diabetes

• Influenza

� Low risk business model : has revenue stream from current commercial products and modular R&D plans

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Product Commercialization Pipeline

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Calendar Q/ Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Indication
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Travelan U.S U.S. Sales (Travel Distribution Diar ~~rhoea) Agreement~~ Pediatric Efficacy Clinical Trial Diarrhoea Clinical Results (Travelan+ Trial Rotavirus) HIV Efficacy Clinical Trial (adjunct Rx Clinical Trial Results +HAART) Cancer Efficacy Clinical Trial Related Clinical trial Results Mucositis Diabetes Effi cacy Clinical Trial Initiation Flu Deliver y Safet y System Clinical Trial Determined

Anti-LPS Antibody Containing Formulations for Gastro-Intestinal Inflammatory Diseases

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Traveller's
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Bowel Disease (IBD)
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Cancer Treatment
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(Radiation and ChemoRx)
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HIV/AIDS
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Activation/ Immune
Depletion
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• Antibodies to E.coli specific antigens added • Commercial now in Australia/US launch Q1 ’09

• Dietary supplement with 84% efficacy

• IBD clinical study initiated Q2 ‘08

• Over 4m patients per year in the US alone • Added TGF‐ β g rowth factors reduce GI inflammatory effects and promote healing

• • Clinical trial initiated Q4 ’08 (Vistech grant)

• Antibodies reduce immune depletion and extend HAART therapy effectiveness

• • A ustra li an government un f d e d c li n ca tr a i l i l under development (ant. Q4 ‘08 initiation)

• • Over 30m patients worldwide

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Type II Diabetes Control: Oral Active Immune Modulation

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[Pending Hadassah IP Acquistion & Transaction]

• 15‐20 million in USA; 1.5M new/yr

• $6 . 4B market for top two drugs alone

• • Current therapeutics all have risks

• Anti‐insulin antibodies with adjuvant induce antigen specific regulatory T cells that suppress the immune res p onse associated with the diabetes p rocess.

• Animal data show reduced blood glucose levels and improved oral glucose tolerance testing; addresses type II diabetes as an immune mediated disease

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Major medical
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v ance c r
value & exit
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• A safe, oral and all natural way to control diabetes avoiding needles/insulin and other drug side effects

• Novel method to correct the functioning of regulatory lymphocytes; may lead to a unique therapy platform for metabolic syndrome more broadly

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Novel Influenza Antibody Spray

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• Immediate acting protection from airborne infectious ‐

• virus , including post exposure prophylaxis (PEP)

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• Target market >US $7B/yr worldwide

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• Core technology provides unique advantages

• Affordable, Polyclonal antibody approach

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• 6 month cycle for Abs to new flu strains, including lethal ones (eg. Avian flu)

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Major medical
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v ance c r
value & exit
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• Multiple animal studies already conducted

• •Major publication & presentation in editing phase • Stand alone product and/or combined with existing products

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Executive Management Team

Dr. Zeil Rosenberg, CEO Becton Dickinson ( BD ); USAID

Dr. Oren Fuerst VP Business Develo ment , p � KPMG, Faculty Columbia & Yale Bus. Schools Dr. Grant Rawlin, VP R&D

Australia Office of Chief Veterinary Officer , Dr . Yaron Ilan Medical Director , Chief Medicine & Liver Unit, Hadassah Med Center (Pending Hadassah Transaction)

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Scientific Advisor Board y (Under Expansion)

Prof. Roy Robbins-Browne (Infectious Diseases) Head of the Dept . of Microbiology & Immunology , Uni of Melbourne Prof. Colin Chapman

Former Dean of Pharmacy, Monash Uni. Dr. Damian Purcell (HIV/AIDS)

Microbiology and Immunology, Univ Melbourne; Burnet Institute Prof. Andrew Sinclair (Nutrition) Chair, Human Nutrition, Sch Exercise & Nutrition Sci, DeakinUni Prof. Frank Dudley (Clinical GI)

. Former Chair, Gastroenterology, Alfred Hospital, Melbourne Prof. David Anderson (GI Microbiology) � Dept Director , Burnett Institute for Medical Research & Public Health Prof. Lorena Brown (Influenza) � Dept. of Microbiology & Immunology - Uni of Melbourne

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Primary Use of Investment Proceeds

• IP development

• Regulatory

• Expedited clinical trials

• Business development esp corporate partnering

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Reference Intrinsic Value now and 1 ear ( y )

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Summar y

• Orally delivered antibodies derived from hyper immune colostrum

Dairy cows vaccinated with disease specific antigens

• Broad market opportunities

• Current Commercial: E.coli, Rotavirus

• Development: Diabetes, Mucositis, HIV /AIDS, IBD, Influenza

• Naturally occurring antibodies and other proteins

• Established clinical record and safety profile can be a pp lied across multi p le markets

• Multiple options for the projects and company (licensing; product sales; M&A)

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Contacts

Dr. Oren Fuerst VP Business Development oren@anadis.com Tel: +1 646 259 3321

or

Arie Nudel I nves or t R e a l ti ons arie@anadis.com Tel: +61 3 9018 4880

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u Base Strong Intellect al Propert y

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Issued Patents
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• P ro e n t i Shi e ldi O l D e li ng ra very

• � Anti-LPS antibody formulation

• � Cattle Vaccine formulation & Polyclonal Ab Manufacturing

• � C.difficile disease treatment using antibodies

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Provisional Patents to address diseases
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• GI Mucositis

• � HIV/AIDS � I n fl uenza � Oral Immune Modulation for Diabetes, Alzh e im e r Ca n ce r H titi s C n d in s, , epa (pe g acquisition)

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