HALIFAX, Nova Scotia, April 17, 2018 (GLOBE NEWSWIRE) -- Immunovaccine Inc. (TSX:IMV) (OTCQX:IMMVF), a clinical stage immuno-oncology corporation, is pleased to announce that Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), two leading independent proxy advisory firms, have recommended that shareholders vote FOR all items submitted for approbation by the shareholders, including the share consolidation for a potential Nasdaq listing and the Corporation’s name change, at the annual and special meeting of shareholders to be held on May 1, 2018.

Although the approval of shareholders for the share consolidation is being sought at the meeting, the share consolidation would become effective at a date in the future to be determined by the board, if and when it is considered to be in the best interest of the company to implement the share consolidation. The board may determine not to implement the share consolidation at any time after the meeting without further action on the part of, or notice to, the shareholders, and there is no assurance whatsoever that the common shares of the company will be listed on the Nasdaq.

ISS and Glass Lewis Share Consolidation Recommendations

Among their positive recommendations FOR all items on the agenda, ISS and Glass Lewis were of the view that the share consolidation allows for enhanced long-term growth prospects of the company by broadening its financing alternatives without impacting shareholder value. Accordingly, shareholders are encouraged to vote in favour of the share consolidation.

Attention Shareholders

Shareholders are reminded to vote their proxy before 10:00 a.m. (Eastern time), on April 27, 2018. Immunovaccine’s Board of Directors unanimously recommends that its shareholders vote FOR all items submitted for approbation of the shareholders, including the share consolidation and the name change.

For more information and assistance in voting your proxy, please contact Laurel Hill Advisory Group, at:

About Immunovaccine

Immunovaccine Inc. is a clinical stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and other serious diseases. Immunovaccine develops T cell-activating cancer immunotherapies based on the Company’s proprietary drug delivery platform. This patented technology provides controlled and prolonged exposure to a broad range of immunogenic stimuli. Immunovaccine has advanced two T cell-activating therapies for cancer through Phase 1 human clinical trials and is currently conducting a Phase 1b study with Incyte Corporation assessing its lead cancer therapy, DPX-Survivac, as a combination therapy in ovarian cancer. The Company is also exploring additional applications of its platform, including DPX-RSV, an innovative vaccine candidate for respiratory syncytial virus (RSV), which has recently completed a Phase 1 clinical trial. Immunovaccine also has ongoing research projects in malaria and the Zika virus. Connect at www.imvaccine.com.

Forward-Looking Statements

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 Corporation, 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 except as required by law.

Contacts for Immunovaccine:

Mike Beyer, Sam Brown Inc.
 T: (312) 961-2502 E: mikebeyer@sambrown.com

Pierre Labbé, Chief Financial Officer
 T: (902) 492-1819 E: Plabbe@imvaccine.com

Patti Bank, Managing Director, Westwicke Partners
 O: (415) 513-1284
 T: (415) 515-4572 E: patti.bank@westwicke.com