Immuron Limited Appendix 4D Half-Year Ended 31 December 2017 Name of Entity: Immuron Limited ABN: 80 063 114 045 Half-Year Ended: 31 December 2017 Previous Period: 31 December 2016 Results for Announcement to the Market

Ended 31 December 2017

explanation of the key financial elements contributing to the revenue and result above can be found in the Review of Operations

included within the Directors' Report.

dividends have been paid or declared by the Company for the current financial period. No dividends were paid for the previous

in Controlled Entities

have been no changes in controlled entities during the half-year 31 December 2017.

Information Required by Listing Rule 4.2A

interim financial statements have been reviewed by the Company's independent auditor with a material uncertainty related

the Half-Year Ended 31 December 2017

Financial Report - 31 December 2017

interim financial report does not include all the notes of the type normally included in an annual financial report.

this report is to be read in conjunction with the annual report for the year ended 30 June 2017 and any public announcements made

by Immuron Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations

Directors present their report on the consolidated entity (referred to hereafter as the Company) consisting of Immuron Limited

and the entities it controlled at the end of, or during, the half-year 31 December 2017.

2018 for Pediatric NAFLD; and

Liver Portfolio - 3 x Phase II Programs in clinical development (NASH, ASH and Pediatric NAFLD)

completed its 133-patient Phase II NASH study in this reporting period. The last patient randomised into the study completed the

final scheduled clinical site visit in October and the study site conducted its Close-Out Visit, which represented the last on-site

monitoring visit for the study. This effectively concluded patient treatment and all research related activities at all clinical

sites for the IMM-124E NASH phase II study. All 25 clinical sites are now closed and Immuron is on track to report the top line

results in Q1 CY2018.

in the year the company reported the safety and efficacy results of a planned interim analysis. The objectives of the analysis

were to establish the safety of IMM-124E and to provide a preliminary read on efficacy signals. The study analysed 122 patients,

80 of whom completed their 24-week treatment with IMM-124E.

interim analysis showed:

results reported showed a dose related reduction which is proof of concept for a biological effect demonstrating treatment with

IMM-124E is associated with a reduction in liver injury in NASH patients.

giants Bristol-Myers Squibb and Pfizer have both signalled product development intentions in the sector. And Reuters has quoted

estimates that the NASH market will reach US$20 billion to US$35 billion as the incidence of fatty diets multiplies.

the same time the November approval of a US patent firmly underlines the strength of Immuron's position in the race to commercialise

IMM-124E as a world-leading treatment for non-alcoholic steatohepatitis (NASH).

is a severe form of non-alcoholic fatty liver disease (NAFLD). It affects about 16 million people annually in the United States

alone, making it a prime opportunity for the pharmaceutical and biotechnology industries.

17.3 percent of Americans aged 15 - 19 suffering NAFLD, Immuron's Phase II trial with Emory University is timely.

Health authorities estimate paediatric NAFLD affects five to 10 percent of the US paediatric population, with no current approved

lead Principle Investigator for our Paediatric NAFLD study is Dr Miriam Vos, Emory University. Dr Vos specializes in the

treatment of gastrointestinal disease in children as well as fatty liver disease and obesity. Our NIH funded Phase II double

blind, placebo control, randomized study on IMM-124E has enrolled 16 patients into the study as of February this year and has

so far randomized 40% of the targeted 40 patients into the study. The primary endpoint is changes in ALT (liver enzymes)

following 3 months of treatment with top-line results expected in Q4 2018.

Arun Sanyal is the lead Principle Investigator for the Immuron alcoholic steatohepatitis (ASH) clinical study which is also funded

by the NIH. Approximately 70% (46) of the targeted 66 patients have been randomized into the study. The primary endpoint is changes

in ALT (liver enzymes) and topline results are expected in Q1 2019.

moves forward to clinical study status in C. difficile infection

July, Immuron announced the publication of the results of its successful pre-clinical proof-of-concept (POC) program in Clostridium

difficile infection (CDI).

results from the Monash University study were presented in a peer-reviewed paper in Scientific Reports, an online, open

access journal from the publishers of Nature.

results were also presented at the 10th International Conference on the Molecular and Pathogenesis of the Clostridia

(ClostPath 10) in the United States in August.

August Israel's Ministry of Health and the Hadassah Medical Centre Human Research Ethics Committee approved the commencement

of the first in-human clinical trial. Immuron opened the first clinical site at the Hadassah Medical Centre in September and is

aiming to enrol a total of 60 CDI positive patients into the study.

IMM-529 is a first-in-class biologic containing highly specific antibodies to C. difficile. IMM-529's unique

triple-targeted mechanism of action (MOA) effectively neutralizes C. difficile without negatively affecting the

normal gut microbiota.

has a massive impact on human health, affecting more than 450,000 people annually and killing over 29,000 a year in the US alone.

Estimates of the economic burden of CDI exceed US$10 billion a year.

moves forward to clinical study status in C. difficile infection

is pursuing the biopharmaceutical research and development of an effective and safe non-antibiotic treatment for Clostridium

difficile infection (CDI). The phase I/II randomised, double-blind, placebo-controlled study is designed to evaluate the safety

and efficacy of the IMM-529 drug product candidate for the treatment of CDI.

July, Immuron announced the publication of the results of its successful pre-clinical proof-of-concept (POC) program in Clostridium

difficile infection (CDI). The results from the Monash University study were presented in a peer-reviewed paper in Scientific

Reports, an online, open access journal from the publishers of Nature.

results were also presented at the 10th International Conference on the Molecular and Pathogenesis of the Clostridia

(ClostPath 10) in the United States in August.

August Israel's Ministry of Health and the Hadassah Medical Centre Human Research Ethics Committee approved the commencement

of the first in-human clinical trial. Immuron opened the first clinical site at the Hadassah Medical Centre in September and a

second site was opened in January 2018 at the Sheba Medical Center at the Tel Hashomer Hospital. The first-in-human study is aiming

to enrol a total of 60 CDI positive patients into the study.

IMM-529 is a first-in-class biologic containing highly specific antibodies to C. difficile. IMM-529's unique

triple-targeted mechanism of action (MOA) effectively neutralizes C. difficile without negatively affecting the

normal gut microbiota.

has a massive impact on human health and according to data published by the US Centre for Disease Control and Prevention infects

more than 450,000 people annually and killing over 29,000 a year in the US alone. Estimates of the economic burden of CDI exceed

US$10 billion a year.

Travelan enjoys continued strong sales growth

flag-ship product Travelan , an over-the-counter travellers' diarrhoea supplement realised revenue of more than AU$914,000

for the first 6 months of the 2018 financial year. Travelan USA experienced a 250 percent increase in sales, year over year

reaching AU$335,000. Travelan Australia also reported strong growth with a 27 percent lift in turnover.

attributes the strong FY2018 first half performance to its trade marketing campaign made up of:

company is anticipating that the same sales trajectory will continue for the remainder of the 2018 financial year and sales are

forecast to exceed AU$2 million for the first time.

with the US Department of Defense

collaboration with the US Department of Defence advanced during this reporting period.

Entero-invasive Gram-negative bacteria are a global issue affecting travellers visiting and children living in endemic areas.

diarrhea is a World Health Organisation public health priority area due to a lack of effective vaccines and the accelerating global

antimicrobial resistance (AMR) crisis. In the absence of a licensed vaccine, an alternative, non-antibiotic prophylactic approach

would serve a definite role in mitigation of disease burden.

major study commissioned during this reporting period by the US Department of Defence (DoD) and funded by the Health Agency's

Defence Health Program was performed at the Department of Enteric Diseases (DED), Armed