Advaxis Announces Appointment of Dr. Robert Petit to Chair of Scientific Advisory Board and Departure as Chief Scientific Officer

PRINCETON, N.J.–(BUSINESS WIRE)–Advaxis,
Inc. (NASDAQ:ADXS) (the “Company”), a late-stage
biotechnology company focused on the discovery, development and
commercialization of immunotherapy products, today announced that Robert
Petit, Ph.D. will be leaving his position as Chief Scientific Officer at
the end of the month. Dr. Petit will assist the Company in transitioning
his duties over the next several weeks, and will continue to support the
Company as an advisor and consultant in his capacity as the new Chair of
the Advaxis Scientific Advisory Board, effective June 3, 2019.

“Advaxis’ clinical and preclinical programs have grown and matured
significantly during Dr. Petit’s time with the Company, and we are
grateful for his guidance and expertise as Chief Scientific Officer.
Over the past several years our business has transitioned from research
and validation to one with a product portfolio featuring multiple
programs in various stages of clinical development. We appreciate
Robert’s work in bringing us to this point,” said Kenneth A. Berlin,
President and Chief Executive Officer of Advaxis. “On behalf of Advaxis,
I would like to thank Robert for his scientific leadership and extensive
contributions to the Company’s progress. We look forward to his
continued support as Chair of our Scientific Advisory Board.”

“Over the past nine years I’ve had the opportunity to guide the
evolution of a technology platform that I continue to believe will have
an important impact on the future of cancer therapies. This technology
has potential to be among the best vectors available for generating T
cell responses against personal and shared neoantigens and other
tumor-specific targets,” said Dr. Petit. “It is with mixed emotions that
I leave my role as the Chief Scientific Officer, however, I am excited
to continue providing scientific guidance to Advaxis as we progress
toward clinical validation of the platform in furtherance of Advaxis’
mission to improve the lives of people with cancer.”

About Advaxis, Inc.

Advaxis, Inc. is a late-stage biotechnology company focused on the
discovery, development and commercialization of proprietary Lm-based
antigen delivery products. These immunotherapies are based on a platform
technology that utilizes live attenuated Listeria monocytogenes (Lm)
bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based
strains are believed to be a significant advancement in immunotherapy as
they integrate multiple functions into a single immunotherapy and are
designed to access and direct antigen presenting cells to stimulate
anti-tumor T cell immunity, activate the immune system with the
equivalent of multiple adjuvants, and simultaneously reduce tumor
protection in the tumor microenvironment to enable T cells to eliminate
tumors. Advaxis has four programs in various stages of clinical
development: ADXS-HPV for cervical cancer; ADXS-NEO, a personalized
neoantigen-directed therapy for multiple cancers; ADXS-503 for non-small
cell lung cancer, from its ADXS-HOT off-the-shelf neoantigen-directed
program; and ADXS-PSA for prostate cancer.

To learn more about Advaxis, visit www.advaxis.com
and connect on Twitter, LinkedIn, Facebook and YouTube.

Advaxis Forward-Looking Statement

Some of the statements included in this press release may be
forward-looking statements that involve a number of risks and
uncertainties. For those statements, we claim the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. The factors that could cause
our actual results to differ materially include: the success and timing
of our clinical trials, including subject accrual; our ability to avoid
any clinical holds and to resolve FDA’s partial clinical hold; our
ability to obtain and maintain regulatory approval and/or reimbursement
of our product candidates for marketing; our ability to obtain the
appropriate labeling of our products under any regulatory approval; our
plans to develop and commercialize our products; the successful
development and implementation of our sales and marketing campaigns; the
size and growth of the potential markets for our product candidates and
our ability to serve those markets; our ability to successfully compete
in the potential markets for our product candidates, if commercialized;
regulatory developments in the United States and other countries; the
rate and degree of market acceptance of any of our product candidates;
new products, product candidates or new uses for existing products or
technologies introduced or announced by our competitors and the timing
of these introductions or announcements; market conditions in the
pharmaceutical and biotechnology sectors; our available cash; the
accuracy of our estimates regarding expenses, future revenues, capital
requirements and needs for additional financing; our ability to obtain
additional funding; our ability to obtain and maintain intellectual
property protection for our product candidates; the success and timing
of our preclinical studies including IND-enabling studies; the timing of
our IND submissions; our ability to get FDA approval for study
amendments; the timing of data read-outs; the ability of our product
candidates to successfully perform in clinical trials; our ability to
initiate, enroll, and execute pilots and clinical trials; our ability to
maintain collaborations; our ability to manufacture and the performance
of third-party manufacturers; the performance of our clinical research
organizations, clinical trial sponsors and clinical trial investigators;
our ability to successfully implement our strategy; and, other risk
factors identified from time to time in our reports filed with the SEC.
Any forward-looking statements set forth in this press release speak
only as of the date of this press release. We do not intend to update
any of these forward-looking statements to reflect events or
circumstances that occur after the date hereof.

Contacts

Investors:
LHA Investor Relations
Yvonne Briggs, (310) 691-7100
[email protected]