updated 4/5/2011 9:46:15 AM ET 2011-04-05T13:46:15

SEATTLE, April 5, 2011 (GLOBE NEWSWIRE) -- TapImmune Inc. (OTCBB:TPIV), is pleased to provide this corporate update to our current and future shareholders and other interested parties.

Our collaborative development programs for a breast cancer vaccine and for a new generation of smallpox vaccines are proceeding on schedule.

We anticipate that an IND for the first Phase I study in our program to develop a vaccine against HER-2/neu breast cancer will be filed soon. The technology entering the clinic targets a novel set of HER-2/neu antigens discovered in breast cancer patients with pre-existent immunity to these antigens (Clinical Cancer Research 16[3]:825-34, 2010). This technology complements TapImmune's TAP technology that we envision as part of a final vaccine product. This technology is currently completing preclinical development. Currently, Herceptin® (trastuzumab: an intravenously delivered monoclonal antibody) is used in the treatment of HER-2/neu breast cancer. Sales of this product in 2009 were approximately US$5 billion (source: Roche AG's Pharmaceutical Division). As our vaccine approach has the potential to treat a broader HER-2/neu positive clinical population, the market potential is significant.

Ongoing collaborative research, on a new smallpox vaccine, will select the most potent peptide antigens against the smallpox virus for combination with our TAP technology. In preclinical studies (Plos Pathogens 1: 289-98, 2005) our TAP technology improved the efficacy of a vaccinia virus vaccine by over a hundred fold. TapImmune believes that this approach provides the potential for development of a vaccine against smallpox that has broader application, is more cost effective and has a better shelf-life than existing viral-based products. 

TapImmune plans to evaluate its TAP technology for improving the efficacy of vaccines designed to combat a range of additional viral threats in the biodefense and infectious disease field. To expand its technology platform TapImmune also plans to enter additional technology collaborations for the development of DNA plasmid expression vectors that can deliver TAP genes into target cells.

More information on our collaborations and planned products is available in earlier press releases. http://www.tapimmune.com/news/news_releases

TapImmune has also received a number of industry and local media placements in recent months and we encourage our shareholders to review them on our website media page. http://www.tapimmune.com/publications/media/

Over the past 12 months TapImmune has completed financings in excess of $2 million that have enabled the company to continue to grow its technology platform including those through collaborative projects and expand as well as protect its IP portfolio.  

Dr. Glynn Wilson, Chairman & CEO of TapImmune, stated, "We have made significant progress in the last 12 months with the establishment of excellent strategic collaborations and the recruitment of world-class advisors to help guide our technical and commercial programs. As we start our clinical programs we expect to reach a number of important milestones in 2011 in both cancer and infectious disease."

About TapImmune

TapImmune's unique approach is designed to increase the efficacy of vaccines by enhancing antigen presentation through the use of the Transporter of Antigen Processing ('TAP'). Replacement of this transporter provides a significant immune response with the potential to treat a variety of cancers which lack normal amounts of TAP.

TapImmune's lead product candidate, AdhTAP, is designed to restore and augment antigen presentation and subsequent recognition and killing of cancer cells by the immune system. The Company is currently planning the development of AdhTAP for the commencement of clinical manufacturing and toxicology studies. As a stand-alone cancer therapy or in combination with other drugs, AdhTAP could prove to be a key component of a more successful assault on cancer. TapImmune is in pre-clinical co-development of a multi-component vaccine for the treatment of HER-2/neu positive breast cancer.

The Company is also developing a TAP-based prophylactic vaccine which initial tests indicate may increase the efficacy of targeted prophylactic vaccines by up to 1000 times. TapImmune's TAP technology could significantly improve the efficacy of many current prophylactic vaccines and enhance the creation of new ones in the fight against many pandemic infectious diseases. A next generation smallpox vaccine is currently in preclinical development.

The TapImmune Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3877 

Forward-Looking Statement Disclaimer

This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements". Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov . The Company assumes no obligation to update the forward-looking statements.

CONTACT: Glynn Wilson, Chairman & CEO
         Taplmmune Inc.
         Investor Relations (866) 359-7541

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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