Fonds de solidarité FTQ Invests $5.75 Million In Immunovaccine Share Capital

MONTRÉAL, Feb. 16, 2018 /CNW Telbec/ - The Fonds de solidarité FTQ is investing $5.75 million in the share capital of biopharmaceutical firm Immunovaccine Inc. (TSX: IMV) (OTCQX: IMMVF). This transaction was completed as part of Immunovaccine's Bought Deal Offering with Over-allotment option fully exercised announced by the company on February 15, 2018.

The funding will be used to develop new immunotherapies for fighting cancer using DepoVaxtm, the company's proprietary drug release platform. Immunovaccine has offices and laboratories in Halifax and Québec City, and is planning to increase its staff from 37 to up to 60 by 2020.

Quotes
"Immunovaccine is a platform company that stands out by having programs in immuno-oncology and infectious diseases at several clinical stages, generating very encouraging preliminary results. This motivates us to invest in supporting their R&D efforts for the various indications in their product pipeline. We are pleased to support entrepreneurs with a successful track record, as in this case, where some members of Immunovaccine's management and the Chairman of the Board have already contributed to Medicago's success. With some 15 biotechs funded, the Fonds has one of the largest portfolio in this sector in Québec and Canada. We are committed to supporting this industry, which has a bright future ahead thanks to its talent pool and innovative R&D and service infrastructures."
Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité FTQ

"We have the privilege of collaborating with major strategic players in our industry and are proud to be able to count on the Fonds de solidarité FTQ as an investor partner to enable us to continue developing and eventually bringing our products to market. Immunotherapy in oncology is one of the major medical breakthroughs of the past decade and it's been proven beyond a doubt that it works, which is why we are using our expertise in this field to innovate and multiply tests and clinical trials that will lead to the discovery and application of new anti-cancer therapies."
Frédéric Ors, President and CEO, Immunovacine

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 infectious diseases. Immunovaccine is developing T cell-activating cancer immunotherapies based on DepoVaxtm, its patented immuno-stimulating technology platform, which provides controlled and prolonged delivery of immuno-stimulating agents to the immune system. Immunovaccine has advanced two T cell activation therapies for cancer through two Phase 1 human clinical trials, and is currently conducting multiple Phase 1b and Phase 2 studies with Incyte Corporation and Merck. These studies are assessing a combination therapy in ovarian cancer and diffuse large B cell lymphoma. The Company is also exploring additional applications of DepoVaxtm for infectious diseases and other therapeutic areas, including DPX-RSV, an innovative vaccine candidate for respiratory syncytial virus (RSV) that recently completed a Phase 1 clinical trial. Connect at www.imvaccine.com.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $13.7 billion in net assets as at November 30, 2017, the Fonds has helped create and maintain over 186,440 jobs. The Fonds has more than 2,700 partner companies and over 645,000 shareholder-savers.

SOURCE Fonds de solidarité FTQ