** Shares of Australia's Immuron IMC.AX rise as much as 12.1% to A$0.074, their highest since November 5

** Biopharmaceutical firm announces new research agreement with the Naval Medical Research Command and the Walter Reed Army Institute of Research in Silver Spring, U.S., funded by U.S. Department of Defense

** Immuron is collaborating to progress to develop two new oral therapeutics targeting Campylobacter and Shigella, bacteria that cause diarrhea diseases

** IMC, YTD down 11.4%

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))