IMUGENE LIMITED — Capital/Financing Update 2009

Nov 23, 2009

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ASX ANNOUNCEMENT

– Imugene Merial Strategic Alliance Update

24 November 2009, Sydney, Australia. Merial has requested and Imugene has granted a short extension to the 2009 renewal date for the Strategic Alliance between the two companies. The extension of several weeks will allow Merial time to finalise the acquisition and evaluation of additional scientific data for their internal evaluation of the Imugene vaccine technologies. Accordingly the renewal review date will occur in mid January 2010.

About Imugene

Imugene specialises in commercialising animal health products for production animals including pigs and poultry.

Imugene owns the worldwide rights to the Fowl Adenoviral Vector Delivery System for poultry and the Porcine Adenoviral Vector Delivery System for pigs. Since establishing a laboratory at La-Trobe University, Victoria, additional vaccine technology has been developed for the pig & poultry industries.

A Strategic Alliance with Merial Limited agreed in December 2008, provides the strength of Merial’s vast experience and infrastructure to the development of Imugene’s innovative range of vaccine candidates. In return for exclusivity over the Imugene technology, Imugene will receive annual payments, milestone fees and royalties.

Imugene's poultry and pig vaccine portfolio is targeting a worldwide US$3 billion annual market with several lead vaccine products under development and a strong product pipeline. Consumer demands for disease free and residue free food will bolster Imugene's prospects.

For more information please visit the Imugene Website www.imugene.com or contact:

Dr Warwick Lamb Mr Graham Dowland Managing Director Executive Chairman +61 2 9870 7330 +61 8 9440 2660

ABN 99 009 179 551

Registered Office Level 20, Allendale Square, 77 St Georges Terrace, Perth WA 6000 Tel +61 8 94402660 Fax +61 8 9 4402699

www.imugene.com