IMUGENE LIMITED — Capital/Financing Update 2013

Apr 29, 2013

Imu gene announces Share Purchase Plan

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Highlights

• Share Purchase Plan offers new shares to existing shareholders

• Funds raised to advance lead products to regulatory filing in the EU and UK

Melbourne, 30 April 2013 : Imugene Limited (Imugene or Company) (ASX.IMU) has announced a Share Purchase Plan (SPP), which provides shareholders who were on the Company's share register as at 7.00 p.m. AEST on Monday, 29 April 2013 with a registered address in Australia or New Zealand (Eligible Shareholders) the opportunity to subscribe for between $1,000 and $15,000 worth of new fully paid ordinary shares in Imugene (New Shares).

Under the SPP, the offer price of each New Share will be at a 10% discount to the VWAP of Imugene shares as traded on ASX over the 10 consecutive trading days prior to the date New Shares are to be issued (expected to be Tuesday, 4 June 2013).

The amount of capital raised will be dependent on participation in the SPP, but the number of new shares issued will not exceed 30% of shares already on issue.

Imugene uses its proprietary drug delivery technology to improve the efficacy and safety of a diverse number of existing prescription and over the counter medicines. Its platform technology, known as Linguet™, enables the active ingredient of drugs to be absorbed straight into the bloodstream when placed inside the cheek (via the buccal mucosa) or under the tongue (sublingual).

The funds raised from the SPP will be used to advance Imugene’s lead products to regulatory filing in the UK and EU.

Imugene has selected three priority targets – Vitamin D, pain and Parkinson’s Disease – where it can deliver improved versions of existing drugs that meet a significant unmet need.

Imugene’s first product, a reformulation of Vitamin D, has now completed feasibility testing and formulation development. The company expects to file for regulatory approval and license the product to a third party in 2014.

The funds will also be used to advance development of reformulation of the over-the-counter pain drug, Ibuprofen – marketed as Nurofen® and Advil® in Australia and the UK by Reckitt Benckiser and Pfizer respectively. While these drugs have a share of a global market of $US5.37 b per annum, the treatments come with serious side effects such as gastric irritation and stomach ulcers, particularly when used at higher doses for extended periods of time. Positive results from a Phase I clinical trial on a Linguet Ibuprofen (LC201) demonstrated that the Linguet Drug Delivery Platform technology improved patient compliance and speed of action.

“Since acquiring the Linguet technology last year, the Imugene management has made significant progress in validating the technology and progressing our platform applications, and identifying two larger, more lucrative opportunities in pain and Parkinson’s disease,” said Dr Nick Ede, Executive Director of Imugene.

“This technology has the ability to enhance the performance of a number of drugs, and this brings clear and appealing commercial benefits. As such, we believe that Imugene has a very real and near-term opportunity to advance our targets to regulatory approval and generate revenues in the near term. I would like to thank our existing shareholders for their support and welcome their participation in this Share Purchase Plan.”

For full details of the SPP please refer to the SPP Offer Document lodged with ASX on 30 April 2013. The Offer Document and an application form will be sent to Eligible Shareholders on 7 May 2013.

Key Dates:

Event	Date
Record Date to determine eligibility to participate in the SPP.	7.00 PM AEST on Monday,29 April
Announcement of SPP to ASX.	Tuesday, 30 April 2013
Dispatch of SPP documentation to Eligible Shareholders.	Tuesday, 7 May 2013
Opening of the SPP.	Tuesday, 7 May 2013
Closing Date of the SPP.	Tuesday, 28 May 2013
Allotment and Issue of Shares under the SPP.	Tuesday, 4 June 2013
Dispatch Date	Thursday, 6 June 2013

For more information please visit www.imugene.com .

Ends

Investor contact:

Dr Nick Ede, Imugene – 0400 642 254 / nede@imugene.com

Media contact:

Shevaun Cooper, Buchan Consulting – 03 9866 4722 / scooper@buchanwe.com.au

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.