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06/13/12 9:49 AM

#6782 RE: bbotcs #6779

ADSX PRINCETON, N.J., Jun 13, 2012 (BUSINESS WIRE) -- Advaxis, Inc., (OTCBB: ADXS),
a leader in developing the next generation of immunotherapies for cancer and
infectious diseases, announced the publication of preclinical research with
ADXS-PSA (ADXS31-142), Advaxis' Lm-LLO immunotherapy
targeting the PSA antigen associated with prostate cancer.

This research was conducted in collaboration with Dr. Chandan Guha and his
laboratory at Montefiore Medical Center, Bronx, NY. The paper titled
"Combined immunotherapy with Listeria
monocytogenes-based PSA vaccine and radiation therapy leads to a therapeutic
response in a murine model of prostate cancer" by
Hannan R, Zhang H, Wallecha A, Singh R, Liu L, Cohen P, Alfieri A, Rothman J,
and Guha C., has been e-published ahead of print in the journal Cancer
Immunology Immunotherapy.

The objective of the study was to determine if the combination of ADXS-PSA
immunotherapy and radiation therapy could improve upon the efficacy of either
immunotherapy alone or radiation therapy alone in the treatment of mice bearing
PSA-expressing TPSA23 tumors, a preclinical model of prostate cancer.

The study showed:

-- The combination of ADXS-PSA immunotherapy and radiation therapy resulted in
complete regression of established tumors in 60% of mice compared to less-than
or equal to 10% complete regression in either of the treatments alone.

-- In mice that completely regressed after combination therapy, tumors did not
develop upon re-challenge with tumor cells, suggesting the induction of systemic
and protective immune memory.

-- In addition, combination therapy resulted in increased induction of
PSA-specific T cells in the periphery and an increased infiltration of these
cells in the tumor microenvironment.

"ADXS-PSA continues to demonstrate activity in models
of prostate cancer, confirming our decision to move this construct into clinical
development. The potential synergy of ADXS-PSA and radiotherapy observed in this
study suggests that ADXS-PSA might be combined with other therapies that show
efficacy in this type of tumor," commented Dr. John
Rothman, EVP of Science and Operations at Advaxis.

The abstract is available online.

About ADXS-PSA

ADXS-PSA is an immunotherapy that is designed to target the PSA antigen
associated with prostate cancer. This agent is based on Advaxis proprietary
technology and uses a non-pathogenic live attenuated strain of Listeria
monocytogenes to express a fusion protein of PSA joined to a non-toxic fragment
of the adjuvant Listeria protein listeriolysin O (tLLO). By incorporating this
PSA-tLLO antigen-adjuvant protein into the Advaxis live, attenuated vector, the
agent delivers potent immune stimulation directed against a prostate cancer
specific antigen directly from inside antigen presenting cells that are capable
of driving a cellular immune response to PSA expressing cells. Uniquely, Advaxis
Lm-LLO technology also inhibits Treg and MDSC cells within the tumor
microenvironment that promote immunologic tolerance of the prostate cancer cells
of the tumor.

According to the American Cancer Society, prostate cancer is the most common
type of cancer found in American men, other than skin cancer. Prostate cancer is
the second leading cause of cancer death in men, behind only lung cancer. One
man in six will get prostate cancer during his lifetime, and one man in 36 will
die of this disease. For additional information about prostate cancer, please
visit: http://www.cancer.org/.

About Advaxis, Inc.

Advaxis is a clinical-stage biotechnology company developing the next generation
of immunotherapies for cancer and infectious diseases. Advaxis immunotherapies
are based on a novel platform technology using live, attenuated bacteria that
are bio-engineered to secrete an antigen/adjuvant fusion protein that is
designed to redirect the powerful immune response all human beings have to the
bacterium to the cancer itself.

In April 2012, Advaxis' lead construct, ADXS-HPV, was
selected as the Best Therapeutic Vaccine (approved or in development) at the 5th
Annual Vaccine Industry Excellence (ViE) Awards by the vaccine industry and the
journal Expert Reviews of Vaccines. The ViE awards, sponsored by Novartis
Vaccines and Diagnostics, were created to recognize the accomplishments and
contributions of companies and individuals in the vaccine industry over the
previous 12 months. Additional information is available at the World Vaccine
Congress website.

Advaxis' lead construct, ADXS-HPV, is being evaluated
in 4 Phase 2 clinical trials that are open for enrollment for HPV-associated
diseases: CIN 2/3 (US study, Clinical Trials.gov Identifier NCT01116245),
locally advanced cervical cancer (GOG/NCI US study, Clinical Trials.gov
Identifier NCT01266460), recurrent/refractory cervical cancer (India), and head
& neck cancer (CRUK study, Clinical Trials.gov Identifier NCT01598792). Over
fifteen (15) distinct constructs are in various stages of development, developed
directly by the Company and through strategic collaborations with recognized
centers of excellence such as: the National Cancer Institute, Cancer Research --
UK, the Wistar Institute, the University of Pennsylvania, the University of
British Columbia, the Karolinska Institutet, and others. For more information
please visit: advaxis.com | Facebook | twitter | LinkedIn