Melbourne, Australia, January 28, 2020:

North American Travelan

in the first half of FY20

Melbourne, Australia, January 28, 2020:

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

immunotherapeutics for the treatment of gut mediated diseases, today announced the sales results of its commercially available

and over-the-counter gastrointestinal and digestive health supplement Travelan for the first half of fiscal year

2020 ending on December 31, 2019.

Immuron experienced robust gross sales

growth in the US, Canada and Australia throughout the first half of FY20, with global sales reaching AU $1.68M* during the 6-month

North America sales of Travelan

were up 98% YoY for the first half of FY20, spurred on by the launch of Travelan in Canadian pharmacies

in June 2019 and also by robust growth in online Amazon sales within the US. Passport Health, the USA's largest travel medicine

provider, also contributed to the strong result, with Travelan sales rising by 27% within the Passport Health

network of clinics. A series of podcasts on the "Not old, better" network assisted in raising consumer awareness of

In Australia, Immuron sales reached AU

$954K* for the first half FY20, displaying a 33% YoY growth rate. Travelan strengthened its presence in Australian

pharmacies with in-store promotional material and TV advertising with Chemist Warehouse. Immuron's participation in Medical

Practitioner conferences also contributed to increased awareness of Travelan within the medical community.

"The sales momentum for Travelan

which was already evident during the first quarter of fiscal year 2020 has continued unabated throughout the first half

of fiscal year 2020 as consumer awareness of Travelan continues to grow," said Dr. Gary S. Jacob, CEO of

Immuron Ltd. "As we step through the second half of this fiscal year we will continue to focus on increasing consumer awareness

of the brand, particularly in North American markets, as we look to expand the market for this important health care product.

At the same time, we are seeking FDA registration for Travelan as a drug to prevent travelers' diarrhea

which we believe will provide a further boost to our sales potential moving forward."

*Unaudited gross revenue

is an orally administered passive immunotherapy that prophylactically reduces the likelihood of contracting travelers'

diarrhea. 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

About Travelers' diarrhea

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.

(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 and safe

technology platform with one commercial asset generating revenue. In Australia, Travelan is a listed medicine

on the Australian Register of Therapeutic Goods (AUST L 106709) and is indicated to reduce the risk of Travellers' Diarrhea,

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

health product (NPN 80046016) and is indicated to reduce the risk of Travellers' Diarrhea. In the U.S., Travelan

is sold as a dietary supplement for digestive tract protection in accordance with section 403 (r)(6) of the Federal Drug

Administration (FDA). Immuron's lead clinical candidate, IMM-124E, is presently in Phase II trials in Severe Alcoholic Hepatitis

(SAH) and Pediatric Nonalcoholic Fatty Liver Disease (NAFLD). The company now has plans to develop a U.S. registration dossier

for IMM-124E for Travellers' Diarrhea. Immuron's second clinical-stage asset, IMM-529, targets Clostridium difficile

Infections (CDI), and is in clinical trial development in CDI patients. These products together with the Company's other

preclinical immunotherapy 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

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.

Release authorised by the Managing Director