Immunovaccine Inc. Hires Investor Relations Firm

HALIFAX, NOVA SCOTIA--(Marketwire - February 02, 2010) - Immunovaccine Inc. (TSX VENTURE: IMV) announced today that it has engaged SectorSpeak Inc. (the "Consultant") to assist its investor relations activities, namely to introduce the company to institutional investors and analysts, organize investor road shows and generally assist in corporate communication. Pursuant to a consulting agreement to be effective as of February 1, 2010, Immunovaccine will retain the services of the Consultant for an initial period of one year. Immunovaccine has agreed to pay to the Consultant a monthly compensation of $5,000 and to grant the Consultant 60,000 stock options having a term of 5 years from the date of grant, exercisable at a price of $1.31 per common share and vesting over a period of 12 months.

Immunovaccine Inc. is focused on the commercialization of its novel vaccine technology and product candidates. The company continues to strengthen its vaccine pipeline through licensing and strategic partnerships to develop therapeutic cancer and infectious disease vaccines.

This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.