Immuron Update on IMM-124E SARS-CoV-2 Research Melbourne, Australia

Immuron Update on IMM-124E SARS-CoV-2 Research

Melbourne, Australia, August 19, 2022: Immuron

Limited (ASX: IMC; NASDAQ: IMRN), a commercial and clinical-stage biopharmaceutical company with a proprietary technology platform for

prevention and treatment of gut-mediated diseases; today announced that it has deprioritized SARS-CoV-2 research to focus on the clinical

development of our more advanced stage therapeutic drug candidates.

Immuron enters FY23 with a newly appointed CEO

who is completing an assessment of the entire product portfolio, target markets, competitive advantage, and key growth drivers.

In consideration of our research findings, the

rapid evolution of the virus and changing treatment landscape presents significant challenges to conduct a clinical trial for SARS-CoV-2

Immuron has previously reported IMM-124E research

investigations demonstrating neutralizing activity against SARS-CoV-2 (ASX announcements dated 13 May 2021, 15 December 2020, and 21 July

2020). The company has been pursuing the antiviral activities of IMM-124E, focusing on establishing a better understanding of the mechanism

of action associated with these initial observations. CSIRO conducted Quantitative Mass Spectrometry analysis (LC-MS/MS) to identify potential

antiviral agents that are significantly enriched in IMM-124E. Quantitative proteomics identified at least 53 proteins that are significantly

overexpressed in IMM-124E compared to the Milk Powder control samples. This included 17 immunoglobulin-like proteins that appear to be

enriched between two- to nine-fold in Immuron Colostrum drug substance and several small antimicrobial proteins known to function in defense

against bacterial infections.

Immuron has dedicated significant resources to

interrogate the mechanism of SARS-CoV-2 protection, however, the mechanism of how IMM-124E provides protection against SARS-CoV-2 viral

infection remains unclear.

This release has been authorised by the directors

Chief Executive Officer

Ph: +61 (0)3 9824 5254

Immuron Limited (ASX:

IMC, NASDAQ: IMRN is a commercial and clinical-stage Australian biopharmaceutical company with a proprietary technology platform focused

on a novel class of orally delivered polyclonal antibodies produced from hyperimmune antibody-rich bovine colostrum, for prevention and

treatment of gut-mediated diseases.

is an orally administered, over the counter immune supplement that can be taken to reduce the risk of diarrhea and reduce the symptoms

of minor gastrointestinal disorders. Travelan helps to support a healthy digestive system by supporting the gut's

immune defenses, whether you are travelling or at home. Travelan is a highly purified tabletized preparation of hyper

immune bovine antibodies and other factors, which when taken with meals bind to diarrhea-causing bacteria and prevent colonization and

the pathology associated with travelers' diarrhea. 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 Travelers' Diarrhea, 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 Travelers' Diarrhea. In the U.S., Travelan is sold as a dietary supplement

for digestive tract protection.

About Travelers' diarrhea

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 travelers' diarrhea as they may be contracted while travelling and initial symptoms are often indistinguishable.

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.