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IMMUTEP LIMITED — Capital/Financing Update 2009
Nov 1, 2009
65122_rns_2009-11-01_02bfc871-cbb0-41de-ac95-ff9677a2982e.pdf
Capital/Financing Update
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ASX/Media Release 2[nd] November 2009
PRIMA BIOMED TO DIVEST NON-CORE PANVAX CANCER IMMUNOTHERAPY PRODUCT
Prima to retain a holding of future Panvax commercialisation royalties
Australian health care company Prima BioMed Ltd (ASX: PRR) (Prima) is pleased to announce that it has completed the divestment of one of its non-core products, DCtag[TM] to Professor Magdalena Plebanski
Under the terms of the divestment, Prima will retain an undisclosed holding of any future commercialisation royalties from Panvax.
The Panvax product consists of a polystyrene nanoparticle acting as an adjuvant (DCtag[TM] ) which may be coupled to a variety of antigens for use in cancer and immunotherapy.. The DCtag[TM] adjuvant acts as an immune enhancer by assisting dendritic cells to present attached antigen to the immune system.
The Company is delighted with the outcome of the divestment of Panvax. The divestment reduces the cash burn for Prima on what has become a non-core product, as the Company continues to focus on the commercialisation of the CVac™ ovarian cancer therapy treatment vaccine into the multi-billion dollar global pharmacy oncology market, while at the same allowing for the ongoing development of Panvax by Professor Magdalena Plebanski and her team who are fully committed to the realising the product’s full potential.
ENDS
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: [email protected] E: [email protected]
Website: www.primabiomed.com.au
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
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. It has completed two successful clinical trials and is in the final stages of US FDA approval and eventual commercialisation.
The Company’s broader, long term goal is to develop commercial cancer treatment technologies and programs for global markets.
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