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Immunovaccine Signs Agreement with Oncothyreon to Develop Cancer Vaccine

Halifax, NS: June 29, 2010 –Immunovaccine Inc. (TSX-V:IMV) announced today the signing of a research agreement with Oncothyreon Inc. (NASDAQ: ONTY) to develop a potential therapeutic cancer vaccine. Under the agreement, Oncothyreon’s ONT-10, a therapeutic vaccine product candidate, will be formulated in Immunovaccine’s DepoVax™ delivery platform for preclinical testing.

Oncothyreon’s ONT-10 is a synthetic MUC1-based liposomal glycolipopeptide cancer vaccine. Immunovaccine’s DepoVax™ platform is a lipid in oil-depot vaccine delivery and enhancement technology. The goal of this collaboration is to evaluate the ability of this combined vaccine formulation to elicit strong and long lasting immune responses against a well known cancer-associated antigen.

“We are pleased to work with Immunovaccine to explore whether their DepoVax technology can further enhance the activity of our synthetic liposomal MUC1 vaccine in preclinical studies,” said Dr. Scott Peterson, Oncothyreon’s Vice President of Research and Development.