IMUGENE LIMITED — Board/Management Information 2012

Jul 31, 2012

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Imugene announces new strategic direction and Board appointment of global pharma executive Mr. Steve Harris

Highlights

• Imugene sets new direction as drug delivery technology developer

• Experienced global pharma executive Steve Harris joins Board

• Targets early monetisation through nutraceutical opportunities

• Initiation of drug delivery development program with NSAID delivery component

Perth, 1 August 2012 : Australian biotechnology company Imugene (ASX: IMU) today announced the launch of a new strategy centred on its newly acquired Linguet technology with a focus on the multibillion-dollar drug delivery market. Complementing this strategy, Imugene has also announced the appointment of distinguished international pharma executive Mr Steve Harris to the company Board.

The Linguet technology has the potential to open up significant new opportunities in the drug delivery market by improving the delivery of a wide range of nutraceuticals and drugs. Through the Linguet dissolvable tablet technology, many drugs that are usually poorly absorbed or tolerated by ingestion can be delivered to the bloodstream more effectively.

Linguet is at a stage of development where entry to market is in the near-term with low cash burn, as the first targets for improvement can include nutraceutical ingredients with large potential markets but with regulatory costs and timeframes significantly lower than longerterm drug targets.

To help Imugene bring Linguet to market, Steve Harris brings his 48 years of experience in healthcare business and an expansive network to the Imugene Board. Mr Harris has held several senior management roles at Eli Lilly, Reckitt and Colman (now Reckitt Benckiser), Gensia Inc, Medeva and Boots. This has included both sales, marketing and general management roles across the prescription and consumer healthcare sectors.

“Consegna has directed considerable resources to thoroughly reviewing the potential for the Linguet technology. Imugene has reviewed this work and has concluded that Linguet has significant potential across a range of market opportunities. Our clear objective is to demonstrate the capability of this technology by delivering proof of value through early monetisation in the nutraceutical market. We have identified clear unmet needs in this market which the Linguet technology can address,” said Mr Harris.

ABN 99 009 179 551 Registered Office Level 20, Allendale Square, 77 St Georges Terrace, Perth WA 6000 Tel +61 8 9440 2660 Fax +61 8 9440 2699

www.imugene.com

Once delivering value in the nutraceutical space, Imugene’s strategy is to pursue the significant opportunities that exist in a range of pharmaceutical markets including the NonSteroidal Anti-inflammatory (NSAID) drug market. This market is well understood by Mr Harris, who has had significant exposure to NSAID’s with Merck and Reckitt and Colman, and to the world leading NSAID, ibuprofen, during his tenure with Boots.

New Imugene Chairman Mr Fabio Pannuti welcomed the strategic changes at Imugene, “We are greatly excited by the company’s new acquisition and its prospects. We have a clear commercial focus to build early revenue product lines that will fund continued development of the Linguet drug delivery platform.

“Crucially, we have a team in place to make this happen, now strengthened by the scientific expertise of Mr. Steve Martin and his team of generic pharmaceutical experts in the UK, and Consegna Chair Mr Rod Tomlinson. We anticipate that the Linguet development strategy will deliver significant capabilities and a valuable knowledge base in drug delivery technology. There can be no doubt that Big Pharma is facing extraordinary challenges holding onto and protecting their existing brand franchises and revenue streams. Drug delivery technology will play an important role in providing solutions to these challenges by creating new formulations and patent properties. Imugene is now well positioned to pursue these opportunities and deliver a return to shareholders,’ said Mr Pannuti.

New staff supporting the commercialisation of the Linguet technology

Steve Harris B.Pharm, F.R.Pharm.S

Mr Harris served as a Director of Development and Licensing with Medeva plc and brings over 48 years of commercial experience in the pharmaceutical industry, having worked for ICI Pharmaceuticals (now Astra Zeneca), Merck, Eli Lilly, Boots, Reckitt and Colman (now Reckitt Benckiser) and Gensia.

Mr Harris currently serves as non-executive Chairman of Proteome Sciences plc and Cyprotex plc. He has previously held numerous non-executive directorships and consultancies, many of which have been in the drug delivery sector.

He has been a fellow of the Royal Pharmaceutical Society of Great Britain since 2000. Mr Harris graduated with a B.Sc. in Pharmacy from the University of London in 1964.

Dr Nick Ede PhD

Dr Ede has a record of successfully evolving research concepts to commercial products and processes. He has over 25 years experience in drug discovery and international business development gained at Chiron, EqiTX, Mimotopes and Adistem. He holds a PhD from Monash University and Grad. Cert. in Innovation from Melbourne Business School, and has published over 50 scientific papers and patents.

Mr Steve Martin

Steve Martin is a commercial pharmacist in the UK with a track record in delivering established molecules from proof of concept through to regulatory approval. Working for both his own companies and also for differing international pharmaceutical companies, he

ABN 99 009 179 551 Registered Office Level 20, Allendale Square, 77 St Georges Terrace, Perth WA 6000 Tel +61 8 9440 2660 Fax +61 8 9440 2699

www.imugene.com

has been involved in over 80 healthcare and pharmaceutical developments. These developments have led to successful regulatory approvals for clinical nutrition, medical devices and pharmaceutical products. He specialises in the rapid commercialisation of products using a variety of different drug delivery systems, from sustained release, buccal delivery and solid oral dose delivery dosage forms. He has also undertaken consultancy with many firms on different aspects of pharmaceutical strategy, including generic defence, lifecycle management and restructuring new product development pipelines.

Rod Tomlinson

Rod Tomlinson is a qualified industrial chemist who was Chief Chemist of Smith + Nephew Australia and post this was head of research for Ensign Laboratories. He then started his own business, Soltec Group that he sold in 1996 to FH Faulding & Co Limited for more than $20 million. Rod continued to advise Faulding on drug delivery systems prior to retiring in 1998.

For more information please visit the Imugene Website www.imugene.com or contact the office on (08) 9323 2033

Ends

About Imugene

Imugene Limited (ASX:IMU) is commercialising drug delivery applications based on its novel buccal (drugs administered via the cheek) Linguet™ technology. Linguet™ is a patient friendly and cost effective system used to deliver established pharmaceutical and nutraceutical products. Imugene also currently specialises in the development and commercialisation of novel animal health products for pigs and poultry. The range of products under development includes vaccines to prevent important livestock diseases and productivity enhancers to improve the economics of raising commercial livestock.

ABN 99 009 179 551 Registered Office Level 20, Allendale Square, 77 St Georges Terrace, Perth WA 6000 Tel +61 8 9440 2660 Fax +61 8 9440 2699

www.imugene.com