Immuron Plans Phase 3 trial for IMM-124E

Immuron Plans Phase 3 trial for IMM-124E

to Prevent Travelers' Diarrhea

Melbourne, Australia, November 21, 2019:

Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian biopharmaceutical company focused on developing and commercializing oral

immunoglobulin therapeutics for the treatment of gut mediated diseases, today announced that the company recently completed a Pre-IND

meeting with the U.S. Food and Drug administration (FDA) regarding its investigational drug IMM-124E which the company is developing

to treat travelers' diarrhea (TD). Following the FDA's guidance and feedback, the Company now plans to file an investigational

new drug (IND) application for IMM-124E to prevent TD during the first half of 2020, followed by a Phase 3 trial of IMM-124E to

prevent TD in individuals traveling to areas where TD is endemic.

"We already have a great deal of

clinical experience with IMM-124E due to an earlier clinical trial the Company conducted with this drug candidate in a clinical

study in patients with nonalcoholic steatohepatitis under a separate IND," said Dr.

Gary S. Jacob, CEO of Immuron Ltd. "Our recent interactions with FDA were exceedingly helpful in refining plans for this

Phase 3 trial. To our knowledge, IMM-124E, once successfully shown to work in subjects traveling to endemic areas, and successfully

approved, would be the first and only FDA-approved pharmaceutical product to specifically prevent diarrhea."

Travelan and IMM-124E,

Immuron's drug candidate presently in clinical development for TD, are one and the same active pharmaceutical ingredient.

The Company currently markets and sells Travelan as a Therapeutic Goods Administration (TGA) listed medicine for

prevention of TD in Australia, and also markets Travelan in the U.S. and Canada as a dietary supplement, and natural

health product, respectively, for digestive tract protection.

IMM-124E is a first-in class, oral polyclonal

antibody therapy currently being developed as a prophylactic treatment to prevent TD in individuals traveling to endemic areas

for ETEC exposure. In an earlier study completed in 133 biopsy-proven NASH patients where patients were treated with either IMM-124E

or placebo for 6 months, treatment with IMM-124E resulted in a statistically significant reduction of serum LPS levels when compared

to placebo. In addition, biomarkers associated with inflammation were also reduced by IMM-124E including ALT, AST and cytokeratin-18.

IMM-124E was developed to target the endotoxin lipopolysaccharide (LPS) and other pathogenic bacterial components in the human

gastrointestinal tract to potentially reduce LPS-related inflammation and systemic translocation.

Travelan is a highly purified

tabletized preparation of hyper-immune bovine antibodies and other factors, which when taken with meals is believed to bind to

diarrhea-causing bacteria, preventing colonization and the pathology associated with TD. In Australia, Travelan

is a listed medicine on the Australian Register for Therapeutic Goods (AUST L 106709) and is indicated to reduce the risk of TD,

reduce the risk of minor gastro-intestinal disorders and is antimicrobial. In Canada, Travelan is a licensed natural

health product (NPN 80046016) and is indicated to reduce the risk of TD. In the U.S., Travelan is sold as a dietary

supplement for digestive tract protection.

ABOUT TRAVELERS' DIARRHEA

diarrhea (TD) affects between 30 and 70% of over one billion international travelers every year. TD is a gastrointestinal infection

with symptoms that include loose, watery (and occasionally bloody) stools, abdominal cramping, bloating, and fever. Enteropathogenic

bacteria are responsible for most cases, with enterotoxigenic Escherichia coli (ETEC) playing a dominant causative role.

Campylobacter spp. are also responsible for a significant proportion of cases. The more serious infections with Salmonella spp.,

the bacillary dysentery organisms belonging to Shigella spp. and Vibrio spp. (the causative agent of cholera) are often confused

with TD as they may be contracted while travelling and initial symptoms are often indistinguishable.

Immuron Limited (ASX: IMC, NASDAQ: IMRN),

is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies

for the treatment of inflammatory mediated and infectious diseases. Immuron has a novel technology platform with one commercial

asset Travelan generating revenue. Immuron's lead clinical candidate, IMM-124E, is presently being developed

as a drug to prevent TD. The Company also has a collaborative program with the U.S. Department of Defense (DoD) to develop treatments

utilizing the Company's hyperimmune bovine colostrum technology against enteric acute infectious pathogens, including Shigella

and Campylobacter. A recent USD $3.7 million grant was awarded by DoD to develop a product against Campylobacter utilizing this

technology. Immuron's second clinical-stage asset, IMM-529, targets Clostridium difficile Infections (CDI). These

products together with the Company's other preclinical pipeline products currently under development targeting immune-related

and infectious diseases are anticipated to meet pressing needs in the global immunotherapy market.

For more information

visit: http://www.immuron.com

For more information visit: http://www.immuron.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain "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, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product

development programs and any other statements that are not historical facts. Forward-looking statements are based on management's

current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial

condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include:

risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and

relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and

completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers;

our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial

additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described

in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking

statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on

which any such statement is based, except as required by law.