IMMUTEP LIMITED — Capital/Financing Update 2009

Nov 17, 2009

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ASX/Media Release 18 November 2009

PRIMA BIOMED TO UNDERTAKE RESEARCH PROGRAM TO DEVELOP ORAL DELIVERY SYSTEM FOR CERVICAL CANCER VACCINE

Australian health care company Prima BioMed Ltd (ASX: PRR) (Prima) is pleased to announce that it has today engaged The University of New South Wales ( UNSW ) and University of Queensland ( UQ ) to undertake a research program to develop an oral delivery system for vaccines for cervical cancer.

The development of an oral delivery system for cervical cancer vaccines will potentially be a major breakthrough in drug delivery for cervical cancer treatment as it provides a suitable large scale alternative method of drug delivery to injection, which is currently the prime method of delivery.

Prima’s plan is for the research program to lead to the development of a widely available, cost effective oral cervical cancer vaccine in tablet form to deliver cervical cancer vaccines.

Prima plans to develop a more effective means of administering cervical cancer vaccines which represents an opportunity for Prima to significantly increase the level of inoculation for cervical cancer worldwide. This may have significant benefit for mass inoculation environments such as third world countries.

Prima has engaged UNSW and UQ to undertake the research program in conjunction with the Diamantina Institute for Cancer at the University of Queensland under the leadership of Professor Ian Frazer, who was the developer of the Gardasil[TM] vaccine, marketed by major global pharmaceutical companies, CSL and Merck Sharpe & Dome, and Professor Neil Foster and his team at the Supercritical Fluids Department at the University of New South Wales.

Research and development on new and improved drug delivery techniques is of major importance to pharmaceutical companies and is driven by the search for less invasive drug delivery systems and the desire to achieve increased drug bioavailability.

Commenting on the Company’s plans, Prima BioMed executive director Martin Rogers said: “A fully developed oral drug delivery platform would provide significant benefits to patients in the form of reduced side-effects, more efficient utilisation of dosages and improved patient compliance.”

“We look forward to commencing work on this exciting product development with Professors Ian Frazer and Neil Foster, and their respective teams”.

ENDS

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889

For further information please contact:

Mr Martin Rogers James Moses Executive Director Investor and Media Relations Prima BioMed Mandate Corporate Ph: 0428 268 357 Ph: 0420 991 574 E: martin.rogers@primabiomed.com.au E: james@mandatecorporate.com.au

Website: www.primabiomed.com.au

About Prima BioMed

Prima BioMed is an ASX listed Australian health care company. The Company is focused on technologies in the fields of cancer immunotherapy and immunology. Prima’s lead product is the CVac™ ovarian cancer therapy treatment. The Company’s broader, long term goal is to develop commercial cancer treatment technologies and programs for global markets for the benefit of affected patients and the Company’s shareholders.

About CVac™ Ovarian Cancer Treatment

CVac™ is a maintenance therapy administered post-surgery and post-chemotherapy to delay relapse and control metastases of the cancer. There is a large un-met medical need for new treatments for ovarian cancer, which has a very high morbidity rate. There are currently no maintenance-based therapy products commercially available to treat ovarian cancer and the global market for ovarian cancer therapeutics was valued at US$2.1b in 2007 and is expected to total US$3.6b by 2010.

Regulatory approval and commercialisation of CVac™ is the current core focus for Prima.

About UNSW

The University of New South Wales is one of Australia's leading research intensive universities. It is a founding member of the prestigious Group of Eight (Go8) and is consistently ranked as one of the top 50 universities in the world. The UNSW's Supercritical Fluids Research Group headed by Scientia Professor Neil Foster has expertise in the utilisation of dense gas technology to develop stimulus response matrix, hydrogel reservoir, porous chitosan, liposomal and controlled polymer nanoarchitecture drug delivery formulations

About UQ

The University of Queensland (UQ) is a leader in quality research and has a tradition of excellence in teaching and learning. It is one of the world’s top 50 universities and a founding member of Australia’s Group of Eight (Go8). UQ’s Diamantina Institute for Cancer, Immunology and Metabolic Medicine, headed by Professor Ian Frazer, brings together clinicians, clinical researchers, and scientists working on vaccines, cancer, diabetes and arthritis. The Institute co-developed the world’s first cervical cancer vaccine, of which over 40 million doses have been administered to women in 110 countries.

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889