ImmuCell ImmuCell Announces Preliminary, Unaudited Sales Results for Third Quarter of 2022 For Immediate Release

ImmuCell Announces Preliminary, Unaudited Sales

Results for Third Quarter of 2022

PORTLAND, Maine - October 5, 2022 - 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 preliminary, unaudited sales results for the third quarter ended September 30, 2022.

"We have addressed the material disruption in the supply chain

of needed plastic parts that negatively impacted sales during the second quarter, and we have no basis to expect a reoccurrence of this

supply interruption," commented Michael F. Brigham, President and CEO of ImmuCell. "We reduced the backlog of orders to approximately

$205,000 as of September 30, 2022 compared to approximately $704,000 as of June 30, 2022 and approximately $2.43 million as of December

31, 2021. Most of this backlog was held over this past weekend in order to enable cold shipping to customers on Monday, October 3rd."

referred to the "bumpy road" that we are traveling coming out of a prolonged period of short product supply," added

Mr. Brigham. "At this time, I believe the longer period trends are more indicative of the strength of our product sales than just

the most recent quarter. It is exciting to see our sales team begin to resume normal sales activities with the confidence of an increasing

and more reliable production supply going into 2023."

"Our work to achieve regulatory approval to commercialize Re-Tain

continues," Mr. Brigham concluded. "We will make our third submission of the CMC Technical Section when our response to the

FDA's inquiries is complete. We are working to achieve this as soon as possible in the coming months and do expect to make the submission

by the first quarter of 2023. When made, this submission will be subject to a six-month review by the FDA."

Since the first quarter of 2020, the Company has been providing a preliminary look at its top line results soon after the close

of the quarter. The Company expects to provide this prompt, preliminary report on product sales until further notice going forward. The

Company will host a conference call on Tuesday, November 15, 2022 at 9:00 AM ET to discuss the full financial results for the quarter

ended September 30, 2022. 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 November 22, 2022 at (877) 344-7529 (toll free) or (412) 317-0088

(international), utilizing replay access code #4621568. Investors are encouraged to review the Company's updated 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.

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 a milk discard requirement 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

This Press Release contains "forward-looking statements"

within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements

include, but are not limited to, any 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; factors that may affect

the dairy and beef industries and future demand for our products; the extent, nature and duration of the COVID-19 pandemic and its consequences,

and their direct and indirect impacts on our production activities, operating results and financial condition and on the customers and

markets that we serve; the impact of Russia's unprovoked military invasion of Ukraine and attack on its people on the world economy

including inflation and the price and availability of grain, oil, and natural gas; the impact of the global supply-chain disruptions on

our ability to obtain, in a timely and cost-effective fashion, all the supplies and components we need to produce our products; the challenges

in attracting and retaining needed personnel in this current employment environment; the impact of inflation and rising interest rates

on our operating expenses and financial results and on our suppliers and customers; the effects of a potential United States or global

recession on us and our direct and indirect customers, the duration and severity of which are difficult to predict or anticipate; the

scope and timing of ongoing and future product development work and commercialization of our products; future costs of product development

efforts; the estimated prevalence rate of subclinical mastitis and producers' level of interest in treating subclinical mastitis

given the current economic and market conditions; 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 future 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 impacts of backlogs on customer relationships;

the anticipated costs of (or time to complete) planned expansions of our manufacturing facilities and the adequacy of our funds available

for these projects; the continuing availability to us on reasonable terms of third-party providers of critical products or services; the

robustness of our manufacturing processes and related technical issues; estimates about our production capacity, efficiency and yield,

which are highly subject to biological variability and the product format mix of our sales; the future adequacy of our working capital

and the availability and cost of third-party financing; future regulatory requirements relating to our products; future expense ratios

and margins; future compliance with bank debt covenants; costs associated with sustaining compliance with current Good Manufacturing Practice

(cGMP) regulations in our current operations and attaining such compliance for our facilities to produce the Nisin Drug Substance and

Drug Product; our effectiveness in competing against competitors within both our existing and our anticipated product markets; the cost-effectiveness

of additional sales and marketing expenditures and resources; anticipated changes in our manufacturing capabilities and efficiencies;

the value of our net deferred tax assets; projections about depreciation expense and its impact on income for book and tax return purposes;

and any other statements that are not historical facts. Forward-looking statements can be identified by the use of words such as "expects",

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

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

"forecasts", "seeks" and similar words and expressions. In addition, there can be no assurance that future developments

affecting us will be those that we anticipate. Such statements involve risks and uncertainties, 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 or excess inventory buildup), 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, our reliance upon third parties for financial support, products and services, our small size and dependence on

key personnel, changes in laws and regulations, decision making and delays by regulatory authorities, a continuation or worsening of recent

inflationary conditions and their impact on our customers' order patterns, uncertainty and possible adverse effects on us and our

customers arising from an economic recession, currency values and fluctuations and other risks 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, including the risk factors summarized above.