ImmuCell Announces Settlement of Insurance Claim Related to Previously Disclosed Production Contamination Losses For Immediate Release

ImmuCell Announces Settlement of Insurance Claim

Related to Previously Disclosed Production Contamination Losses

PORTLAND, Maine - January 16, 2025 - ImmuCell

Corporation (Nasdaq: ICCC) ("ImmuCell" or the "Company"), a growing animal health company that develops,

manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle,

today announced that it has settled an insurance claim covering some of the losses incurred from production contamination events.

The Company settled a long outstanding insurance claim related to previously

disclosed contamination events in its production process incurred from late 2022 through April of 2024. The Company has accepted a settlement

in the amount of $426,587, which is in addition to the $250,000 that was paid on this claim and recognized for financial statement purposes

during the third quarter of 2023.

Earnings Conference Call:

The Company is planning to host a conference call on Wednesday, February 26, 2025 at 9:00 AM ET to discuss the unaudited financial

results for the quarter and year ended December 31, 2024. Interested parties can access the conference call by dialing (844) 855-9502

(toll free) or (412) 317-5499 (international) at 9:00 AM ET. A teleconference replay of the call will be available until March 5, 2025

at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing replay access code #5555700. Investors are encouraged to review

the Company's Corporate Presentation slide deck that provides an overview of the Company's business and is available under

the "Investors" tab of the Company's website at www.immucell.com, or by request to the Company. An updated version of

the slide deck will be made available after the market closes on Tuesday, February 25, 2025.

ImmuCell Corporation's (Nasdaq: ICCC)

purpose is to create scientifically proven and practical products that improve the health and productivity of dairy and beef cattle. ImmuCell

manufactures and markets First Defense , providing Immediate Immunity to newborn dairy and beef calves,

and is in the late stages of developing Re-Tain , a novel treatment for subclinical mastitis in dairy cows without

FDA-required milk discard or meat withhold label restrictions that provides an alternative to traditional antibiotics. Press releases

and other information about the Company are available at: http://www.immucell.com.

Cautionary Note Regarding Forward-Looking Statements (Safe Harbor

Press Release and the statements to be made in the related conference call referenced herein contain "forward-looking statements"

within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by

the fact that they do not relate strictly to historical or current facts and will often include words such as "expects", "may",

"anticipates", "aims", "intends", "would", "could", "should",

"will", "plans", "believes", "estimates", "targets", "projects",

"forecasts", "seeks" and similar words and expressions. Such statements include, but are not limited to, any forward-looking

statements relating to: our plans and strategies for our business; projections of future financial or operational performance; the timing

and outcome of pending or anticipated applications for regulatory approvals; future demand for our products; the scope and timing of ongoing

and future product development work and commercialization of our products; future costs of product development efforts; the expected efficacy

of new products; estimates about the market size for our products; future market share of and revenue generated by current products and

products still in development; our ability to increase production output and reduce costs of goods sold per unit; the adequacy of our

own manufacturing facilities or those of third parties with which we have contractual relationships to meet demand for our products on

a timely basis; the likelihood, severity or impact of future contamination events; the robustness of our manufacturing processes and related

technical issues; estimates about our production capacity, efficiency and yield; the salability of products currently held in inventory

pending FDA approval; future regulatory requirements relating to our products; future expense ratios and margins; the effectiveness of

our investments in our business; anticipated changes in our manufacturing capabilities and efficiencies; our effectiveness in competing

against competitors within both our existing and our anticipated product markets; our ability to convert the backlog of orders into sales;

and any other statements that are not historical facts. These statements are intended to provide management's current expectation of future

events as of the date of this press release, are based on management's estimates, projections, beliefs and assumptions as of the date

hereof; and are not guarantees of future performance. Such statements involve known and unknown risks and uncertainties that may cause

the Company's actual results, financial or operational performance or achievements to be materially different from those expressed or

implied by these forward-looking statements, including, but not limited to, those risks and uncertainties relating to: difficulties or

delays in development, testing, regulatory approval, production and marketing of our products (including the First Defense

product line and Re-Tain ), competition within our anticipated product markets, customer acceptance of our new and

existing products, product performance, alignment between our manufacturing resources and product demand (including the consequences of

backlogs), uncertainty associated with the timing and volume of customer orders as we come out of a prolonged backlog, adverse impacts

of supply chain disruptions on our operations and customer and supplier relationships, commercial and operational risks relating to our

current and planned expansion of production capacity, and other risks and uncertainties detailed from time to time in filings we make

with the Securities and Exchange Commission (SEC), including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K and our

Current Reports on Form 8-K. Such statements involve risks and uncertainties and are based on our current expectations, but actual results

may differ materially due to various factors. In addition, there can be no assurance that future risks, uncertainties or developments

affecting us will be those that we anticipate. We undertake no obligation to update any forward-looking statement, whether written or

oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.