Corporate Snapshot

Advaxis, Inc. ("Advaxis" or "the Company") aims to use live, genetically modified Listeria monocytogenes ("Listeria") to safely create vaccines that stimulate multiple immune responses against cancer as well as infectious and immune disorders. Through a patented technique, the Company engineers the Listeria bacteria to secrete a specific antigen. The recipients' immune system recognizes and processes that antigen in order to provoke an immune attack against the cancer. Advaxis' Listeria platform technology is licensed from the University of Pennsylvania, where it has been developed over the past 15 years by Dr. Yvonne Paterson, the scientific founder of the Company and current chair of its Scientific Advisory Board. At present, Advaxis is engineering Listeria to fight cervical, prostate, breast, ovarian, head and neck, and other cancers. The cancer vaccine market is forecast to reach over $8 billion by 2012, up from $481 million in 2007. In preclinical studies, Listeria-based cancer vaccines have a 100% therapeutic response rate and consistently provoke tumor regression, completely eliminating tumors in over 50% of mice. Moreover, animals dosed with these vaccines show a long-term immunity against cancer, with new tumor cells unable to grow. This suggests that the technology can not only treat existing tumors but may also prevent cancer recurrence. In 2007, Advaxis completed its first human clinical trial of the Listeria platform using Lovaxin C, a vaccine for human papillomavirus (HPV)-derived cervical and head and neck cancers. In Phase I trials, the vaccine has been shown to be safely administered to humans and well tolerated. To Advaxis' knowledge, it is the first entity to safely use live Listeria as an antigen carrier and immune system stimulant in both animals and humans.

* The Corporate Snapshot was last updated on April 23, 2008.

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