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Immutep to receive £4M milestone payment from GSK

SYDNEY, AUSTRALIA – 23 September 2019 Immutep Limited (ASX: IMM; NASDAQ: IMMP) ("Immutep“ or “the Company”),
a biotechnology company developing novel immunotherapy treatments for cancer and autoimmune diseases, announces that it will receive a milestone payment from GSK of £4 million (~A$7.39
million) related to the the first patient being dosed in GSK’s Phase II clinical trial evaluating GSK2831781 in ulcerative colitis.

GSK2831781 is derived from Immutep's IMP731 antibody, a depleting anti-LAG antibody technology that was exclusively licensed to GSK. Under the terms of the agreement, Immutep is eligible to receive up to £64 million (~A$118.17 million) in developmental milestone payments as well as a single-digit tiered royalties, if GSK2831781 is commercialized. GSK is responsible for all costs associated with the clinical development and commercialization of GSK2831781.

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