Below 
                  is an excerpt from a GlobeImmune press release describing final 
                  results from a Phase 2b study of GI-5005 in previously untreated 
                  chronic hepatitis C patients.
                 GlobeImmune 
                  GI-5005 HCV Product Candidate Improves
                  Sustained Virologic Response by 10 Percent, Demonstrating
                  Potential to Be First Therapeutic Vaccine for HCV
                Final 
                  Phase 2b Data for GI-5005 in Treatment-Naive Patients Presented 
                  at 45th Annual Meeting of the European Association for the Study 
                  of the Liver
                  
                  Louisville, CO -- April 15, 2010 -- GlobeImmune, Inc. today 
                  announced final Phase 2b data for GI-5005, the Company's investigational 
                  Tarmogen product candidate, demonstrating its potential to be 
                  the first successful therapeutic vaccine for chronic hepatitis 
                  C virus (HCV) infection. The data show that GI-5005 increased 
                  the sustained virologic response (SVR) in genotype 1 interferon-naive 
                  patients to 58 percent when used in combination with standard 
                  of care (SOC), pegylated interferon-a2a plus ribavirin, versus 
                  48 percent for patients receiving SOC alone. The study also 
                  demonstrated that adding GI-5005 to SOC results in an improvement 
                  in normalization of alanine aminotransferase (ALT) levels and 
                  suggests an improvement in liver biopsies, both markers used 
                  to assess liver damage.
                  
                  Ira M. Jacobson, MD, the Vincent Astor Distinguished Professor 
                  of Medicine at NewYork-Presbyterian/Weill Cornell Medical Center, 
                  and John G. McHutchison, MD, Associate Director of the Duke 
                  Clinical Research Institute at Duke University Medical Center, 
                  presented the data today at the 45th Annual Meeting of the European 
                  Association for the Study of the Liver (EASL).
                  
                  "This is the first clinical study to demonstrate that a 
                  therapeutic vaccine can be used for patients with chronic hepatitis 
                  C infection," said Dr. Jacobson. "With its novel mode 
                  of action and apparent safety profile, the GI-5005 therapeutic 
                  vaccine could have an important impact on the treatment of this 
                  disease."
                  
                  The Phase 2b study compared GI-5005 plus SOC versus SOC alone 
                  in 140 patients with chronic genotype 1 hepatitis C infection 
                  who were either treatment-naive or prior non-responders to SOC. 
                  On an intent-to-treat basis (patients having received at least 
                  one dose of combination therapy), treatment-naive patients receiving 
                  GI-5005 plus SOC as a triple therapy had an SVR rate of 58 percent, 
                  compared to an SVR rate of 48 percent in treatment-naive patients 
                  receiving SOC alone, a relative improvement of 21 percent. GI-5005 
                  triple therapy demonstrated a 67 percent relative improvement 
                  in the proportion of patients achieving normalization of ALT 
                  levels on therapy. ALT is a marker of liver injury that is used 
                  to follow liver function in HCV patients. In addition, a trend 
                  toward an improvement in biopsy necroinflammatory scores was 
                  seen with a 39 percent relative improvement compared to those 
                  receiving SOC alone. The most common adverse events associated 
                  with GI-5005 were injection site reactions that were generally 
                  mild and transient in nature. Importantly, GI-5005 did not increase 
                  the discontinuation rates due to adverse events when added to 
                  standard of care (GI-5005 + SOC - 13.2 percent vs. SOC alone 
                  -- 12.3 percent).
                  
                  "These data show that adding GI-5005 to standard of care 
                  may give patients a clinically important advantage without added 
                  toxicity," said David Apelian, MD, Ph.D., Chief Medical 
                  Officer at GlobeImmune. "We believe that this is an important 
                  medical breakthrough in the treatment of hepatitis C, and it 
                  may have implications for the development of treatments for 
                  other chronic viral infections."
                  
                  Pharmacogenomic data demonstrating a correlation between GI-5005 
                  treatment effect and polymorphisms in the human IL-28 B gene 
                  will also be presented at the EASL meeting on Saturday, April 
                  17 by Dr. McHutchison.
                  
                  Tarmogens are whole, heat-killed recombinant S. cerevisiae yeast 
                  that are engineered to express one or more disease-related proteins. 
                  GlobeImmune's GI-5005 Tarmogen is a therapeutic vaccine product 
                  candidate that contains conserved HCV structural proteins and 
                  is designed to generate an HCV specific T-cell response.
                  
                  About GlobeImmune 
                GlobeImmune, 
                  Inc. is a private company developing active immunotherapies 
                  called Tarmogens for the treatment of cancer and infectious 
                  diseases. Tarmogens generate activated killer T-cells that locate 
                  and eliminate cancer cells and/or virally-infected cells. The 
                  company's lead product candidate, GI-5005, is a Tarmogen being 
                  developed for the treatment of chronic hepatitis C infection 
                  (HCV). GI-5005 is designed to complement both the current standard 
                  of care and emerging novel therapies for HCV. The company's 
                  lead oncology program, GI-4000, targets cancers caused by mutated 
                  versions of the Ras oncoprotein. GI-4000 is being investigated 
                  in clinical trials for the treatment of pancreas cancer as well 
                  as other cancers that contain mutated Ras, including non-small 
                  cell lung cancer and colorectal cancer. In May 2009, the company 
                  announced a global partnership with Celgene focused on the discovery, 
                  development and commercialization of multiple product candidates 
                  for the treatment of cancer.
                  
                  For additional information, please visit the company's web site 
                  at www.globeimmune.com.
                  
                  Center for the Study of Hepatitis C, Weill Cornell Medical 
                  College, New York, NY; Duke Clinical Research Institute, Duke 
                  University Medical Center, Durham, NC; Department of Medicine, 
                  University of Arizona College of Medicine, Tucson, AZ; Center 
                  for Liver Diseases, University of Miami School of Medicine, 
                  Miami, FL; Department of Medicine, University of Colorado Denver, 
                  Aurora, CO; Scripps Clinic, La Jolla, CA; Maryland Digestive 
                  Disease Research, Laurel, MD; Department of Medicine and Surgery, 
                  Baylor College of Medicine, Houston, TX; St. Luke's Episcopal 
                  Hospital, Houston, TX; Alamo Medical Research, San Antonio, 
                  TX; South Denver Gastroenterology, Denver, CP; Center for Disease 
                  of the Liver and Pancreas, Swedish Medical Center, Englewood, 
                  CO; University of Hawaii, Honolulu, HI; Liver Institute of Virginia, 
                  Bon Secours Health System, Newport News, VA; Northwest Indiana 
                  Center for Clinical Research, Valparaiso, IN; Gastrointestinal 
                  Specialists of Georgia, Marietta, GA; QST Consultations, LTD, 
                  Allendale, MI; GlobeImmune, Inc., Louisville, CO; AIP Laboratories, 
                  Silver Spring, MD; University of Texas Southwestern Medical 
                  Center at Dallas, Dallas, TX; Columbia University College of 
                  Physicians & Surgeons, New York, NY; Saint Louis University, 
                  St. Louis, MO; Henry Ford Hospital, Detroit, MI.
                  
                  4/27/10
                  
                  Source
                  GlobeImmune, Inc. GlobeImmune GI-5005 HCV Product Candidate 
                  Improves Sustained Virologic Response by 10 Percent, Demonstrating 
                  Potential to Be First Therapeutic Vaccine for HCV. Press release. 
                  April 15, 2010.
                  
                  References
                  IM Jacobson, JG McHutchison, TD Boyer, and others. GI-5005 therapeutic 
                  vaccine plus peg-IFN/ribavirin significantly improves virologic 
                  response and ALT normalization at end-of-treatment and improves 
                  SVR24 compared to peg-IFN/ribavirin in genotype-1 chronic HCV 
                  patients. 45th Annual Meeting of the European Association for 
                  the Study of the Liver (EASL 2010). Vienna, Austria. April 14-18, 
                  2010. (Abstract).
                  
                  JG McHutchison, ZD Goodman, GT Everson, and others. GI-5005 
                  therapeutic vaccine plus peg-IFN/ribavirin improves biopsy necro-inflammatory 
                  scores and ALT normalization at 48 weeks versus peg-IFN/ribavirin 
                  in genotype 1 chronic HCV patients. 45th Annual Meeting of the 
                  European Association for the Study of the Liver (EASL 2010). 
                  Vienna, Austria. April 14-18, 2010. (Abstract).
                  
                  JG McHutchison, AJ Thompson, IM Jacobson, and others. Pharmacogenomic 
                  analysis reveals improved virologic response in all IL-28b genotypes 
                  in naive genotype 1 chronic HCV patients treated with GI-5005 
                  therapeutic vaccine plus peg-IFN/ribavirin. 45th Annual Meeting 
                  of the European Association for the Study of the Liver (EASL 
                  2010). Vienna, Austria. April 14-18, 2010. (Abstract).