IMV and Centre de Recherche du CHU de Québec-Université Laval Collaboration Awarded a CQDM Grant to Develop First-in-Class Dual Target T Cell Therapy in Bladder Cancer Based on IMV’s DPX Technology

QUEBEC CITY, Quebec–(BUSINESS WIRE)–IMV Inc. (IMV) (Nasdaq: IMV; TSX: IMV), a clinical stage immuno-oncology
corporation, today announced that Canadian bioresearch consortium CQDM
has awarded a grant to a collaboration among IMV, Centre de recherche
du CHU de Québec-Université Laval, and La Fondation du CHU de
Québec (FCHUQc).

Under the leadership of Yves
Fradet, M.D., professor of surgery and researcher in cancer
immunotherapy, and his team, in collaboration with IMV’s team , this
project will receive a grant of up to CAN$1.2M from CQDM and CAN$300,000
from the FCHUQc, to develop a novel dual target T cell therapy for an
initial clinical application in bladder cancer.

The work will target immunogenic peptides identified by Dr Fradet’s team
from the MAGE protein family member A9 (MAGE-A9). This protein is
frequently expressed in various human cancers including bladder, lung,
and kidney.¹ These peptides will be combined with selected
immunogenic peptides from the survivin protein composing the DPX-Survivac
T cell drug candidate.

The researchers believe that MAGE-A9 and survivin peptides presented on
the surface of cancer cells can be used to program T cells to destroy
tumors and may represent ideal targets for anti-cancer T cell
immunotherapies. The collaborators will combine these peptides with
IMV’s proprietary DPX technology to develop a first-in-class dual target
T cell therapy (DPX-SurMAGE).

“We believe that DPX is a truly disruptive technology that enables us to
program T cells in vivo in a novel way, and we are grateful that
CQDM and its funding partner the Quebec Ministry of Economy and
Innovation, along with the FCHUQc, are willing to support this highly
innovative program,” said Stéphan Fiset, Vice
President, Clinical Research at IMV. “Our goal remains to expand
the range of patients able to benefit from T cell immunotherapies. This
program provides an opportunity for us to collaborate with Dr. Fradet’s
team and other experts in the bladder cancer field to advance a
potential new candidate for the many patients whose current treatment
options are limited.”

DPX-SurMAGE will be initially evaluated in preclinical studies. Upon
successful completion of these preclinical evaluations, researchers are
aiming to test the candidate in two clinical studies in patients with:

• Muscle invasive bladder cancer combined with an anti-PD-1 and
  intermittent low-dose cyclophosphamide (CPA) prior to cystectomy
• Low-grade highly recurrent non muscle invasive bladder cancer combined
  with CPA prior to transurethral resection

“Bladder cancer remains a significant unmet medical need and we believe
that a novel T cell therapy directed against two cancer targets that are
expressed in the majority of bladder tumors may improve outcomes,
particularly for those who are at higher risk of recurrence and
progression,” said Dr. Fradet. “We are pleased to be working under the
support of CQDM and the FCHUQc with our partner IMV, and its novel
clinical development approach, to advance the options in this cancer,
which has already shown promising response to immunotherapy. This
project contributes to position the Centre de recherche du CHU de
Québec-Université Laval as a leader in medical innovation.”

The project is expected to span a three-year period and will be
supported by IMV, CQDM and FCHUQc. As part of the collaboration
agreement, IMV holds an exclusive option to in-license intellectual
property related to the program.

About IMV

IMV 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. IMV
is pioneering a new class of immunotherapies based on the Company’s
proprietary drug delivery platform. This patented technology leverages a
novel mechanism of action that enables the programming of immune cells in
vivo, which are aimed at generating powerful new synthetic
therapeutic capabilities. IMV’s lead candidate, DPX-Survivac, is a T
cell-activating immunotherapy that combines the utility of the platform
with a target: survivin. IMV is currently assessing DPX-Survivac as a
monotherapy in advanced ovarian cancer, as well as a combination therapy
in multiple clinical studies with Merck. Connect at www.imv-inc.com.

About CQDM

CQDM is a biopharma-based research consortium created in 2008 with the
mission to fund the development of innovative technologies to accelerate
drug discovery and development. Its business model is based on a
collaborative approach bringing together world-leading pharmaceutical
organizations, Canadian biotech companies as well as the Canadian and
Quebec governments who share the costs of the research. CQDM uses this
leverage to reduce the risks inherent to early-stage biopharmaceutical
research. In doing so, CQDM bridges the funding gap needed to drive
innovation across the academic and private sectors, especially where
early-stage research is concerned. Over the last 10 years, CQDM has
benefited from the contribution of 13 industrial members: that includes
Merck, Pfizer, AstraZeneca as founding members as well as Boehringer
Ingelheim, Eli Lilly Canada, GlaxoSmithKline, Janssen, Novartis Pharma
Canada, Roche, Sanofi Canada, Servier, Takeda and Amgen.

CQDM also received contributions from Quebec’s Ministry of Economy and
Innovation (MEI) and from the Government of Canada under the
Business-Led Networks of Centres of Excellence Program

(BL-NCE). Since 2008, CQDM has supported the development of 64
outstanding innovative technologies totaling $68 M in funding. These R&D
projects carried out by 1,200 scientists from 69 different research
institutions (38 public and 31 private) across Canada, have generated
numerous economic benefits for all the stakeholders of the life science
ecosystem.

About CHU de Québec-Université Laval and Centre de recherche du CHU
de Québec-Université Laval

Bringing together the CHUL, Hôtel-Dieu de Québec, Hôpital de
l’Enfant-Jésus, Hôpital du Saint-Sacrement and Hôpital Saint-François
d’Assise, the CHU de Québec-Université Laval is the most important
academic health care center in Québec and one of the largest in
Canada. Providing general and specialized care, but especially sub
specialized, the CHU de Québec-Université Laval serves the population of
eastern Québec, a pool of nearly two million people. Closely linked to
Université Laval and oriented towards the future, it also has a mission
of teaching, research in many fields of excellence and evaluation of
technologies and modes of intervention in health. The CHU de
Québec-Université Laval has more than 12,500 employees, 1,500
physicians, dentists and pharmacists, 343 regular and associate
researchers, 169 affiliated researchers, as well as 850 graduate
students and 425 volunteers. www.chudequebec.ca

With nearly $102 M in research fundings, the Centre de recherche du CHU
de Québec-Université Laval is the largest French-language health
research center in North America and ranks ninth in Canada according to
Canada’s Top 40 Research Hospitals 2018. It has also been rated
“Exceptional“ by the Fonds de recherche du Québec – Santé (FRQS)
following its most recent evaluation, in 2018.

IMV 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. IMV Inc. assumes no
responsibility to update forward-looking statements in this press
release except as required by law. These forward-looking statements
involve known and unknown risks and uncertainties and those risks and
uncertainties include, but are not limited to, our ability to access
capital, the successful and timely completion of clinical trials, the
receipt of all regulatory approvals and other risks detailed from time
to time in our ongoing quarterly filings and annual information form.
Investors are cautioned not to rely on these forward-looking statements
and are encouraged to read IMV’s continuous disclosure documents,
including its current annual information form, as well as its audited
annual consolidated financial statements which are available on SEDAR at www.sedar.com and
on EDGAR at www.sec.gov/edgar.

¹ Bergeron A., Picard V, LaRue H et al. High frequency of
expression of MAGE-A4 and MAGE-A9 in High Risk Bladder Cancer. Int.
J. Cancer 2009; 125:1365. doi: 10.1002/ijc.24503.

Contacts

Contact for CQDM:

Diane Gosselin
Ph. D., MBA, ASC,
President and CEO
O:
(514) 766-6661 x 2191
E: [email protected]

Contacts for IMV Inc:

Media:
Andrea Cohen, Sam Brown Inc.
O: (917)
209-7163
E: [email protected]

Investor Relations :
Marc Jasmin, IMV Senior Director,
Investor Relations and Communications
O: (902) 492-1819 ext :1042
M:
(514) 917-9481
E: [email protected]

Patti Bank, Managing Director, Westwicke Partners
O: (415) 513-1284
M:
(415) 515-4572
E: [email protected]

Contact for the Centre de recherche du CHU de
Québec-Université Laval:

Kim Tardif, Communications Advisor
O: (418) 525-4387
E:
[email protected]