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IMMUTEP LIMITED — Capital/Financing Update 2011
Oct 23, 2011
65122_rns_2011-10-23_e0825ed6-5323-47dc-8063-6deb0d2dae6d.pdf
Capital/Financing Update
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ASX/Media Release (Code: PRR) 24 October 2011
Prima BioMed launches partnership with The City Hospital in Dubai Healthcare City to commercialise CVac[TM] in the Middle East
Australian health care company Prima BioMed Ltd (ASX: PRR) (Prima) is pleased to announce the formal launch of its partnership with The City Hospital in Dubai Healthcare City (DHCC) to make the CVac[TM] immunotherapy ovarian cancer vaccine commercially available in the Middle East region.
The program was officially launched yesterday, Sunday October 23, at a ceremony to mark the third anniversary of The City Hospital, and comes after Prima announced in May that it had been granted approval for the marketing and distribution of CVac[TM] in DHCC.
Prima expects to be in a position to commence the first sales of CVac[TM] in DHCC before the end of 2011.
This represents a significant milestone for Prima. It is the first commercialisation of CVac[TM] anywhere in the world, and allows the Company to provide treatment for cancer patients in the Middle Eastern region and generate revenues in a growing health care market.
Prima was represented at the launch by its Chief Medical Officer and Executive Director Dr Neil Frazer. The launch was also attended by Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emerates (UAE) and Ruler of Dubai.
Prima BioMed Chief Medical Officer Dr Neil Frazer, said: “We are delighted to celebrate the official launch of our program with The City Hospital to make CVac[TM] commercially available to cancer patients throughout the Middle East region. This is an important pilot commercialisation program for CVac[TM] , and we are also excited at the potential to expand the application of CVac[TM] in the UAE to treat other mucin-1 positive tumours.”
Dr. Fadi Mikhael, who will lead the CVac[TM] program at The City Hospital said: “The approval for the provision of CVac™ by The City Hospital, in partnership with Prima BioMed, is a huge milestone for cancer care not only in Dubai but the region as a whole. This treatment offers hope to thousands of women living in the Middle East who are suffering from ovarian cancer. We hope in time to be able to extend the application of CVac™ to other mucin-1 positive tumours – and treat other types of cancer.”
Launch of Therapeutic Apheresis program
At the same time, Prima also announced the launch of another partnership with The City Hospital, for the launch of a Therapeutic Apheresis service. The Therapeutic Apheresis program will provide a treatment that removes harmful proteins, chemicals or cells in blood that cause disease.
Prima BioMed Ltd , Level 7, 151 Macquarie Street, Sydney NSW 2000 Phone: +61 2 9276 1224 Fax: +61 2 9276 1284 www.primabiomed.com.au ABN: 90 009 237 889
It will be used in blood disorders, kidney problems, metabolic diseases, neurological disorders and auto-immune conditions. This will be the first time this service has been offered in Dubai.
Prima is delighted to have further strengthened its relationship with The City Hospital via these two programs. The City Hospital is a state-of-the-art, fully equipped, multidisciplinary modern hospital which offers world-class healthcare and hospitality in DHCC.
ENDS
For further information please contact:
Martin Rogers Chief Executive Officer Prima BioMed Ph: +61 2 9276 1242 E: [email protected] Website: www.primabiomed.com.au
Mr James Moses Investor and Media Relations Mandate Corporate Ph: +61 (0) 420 991 574 E: [email protected]
Neil Frazer MB ChB Chief Medical Officer Prima BioMed Ph: +1 919 654 6736 E: [email protected]
Prima BioMed Ltd , Level 7, 151 Macquarie Street, Sydney NSW 2000 Phone: +61 2 9276 1224 Fax: +61 2 9276 1284 www.primabiomed.com.au ABN: 90 009 237 889
About CVac[TM] Ovarian Cancer Treatment
CVac™ is Prima BioMed’s core product. It is a vaccine therapy treatment for ovarian cancer sufferers that is administered post-surgery and post-chemotherapy to delay the relapse and control the 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, and there are currently no maintenance-based therapy products commercially available.
The Company has commenced its Phase IIb Trial for CVac™ with the US FDA and plans to commence a Phase III Clinical Trial for CVac™ in Europe and the US this year. The Phase IIb and Phase III Trials aim to further confirm the ability of CVac™ to reduce the instance of relapse in ovarian cancer patients, control the metastases of the cancer and increase the life expectancy of patients.
Prima’s ultimate goal is to commercialise CVac™ into the multi-billion dollar global pharmacy oncology market. The global market for ovarian cancer therapeutics was valued at US$2.1b in 2007 and was estimated to have grown to US$3.6b by 2010.
Regulatory approval and commercialization of CVac[TM ] is the core focus for Prima.
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 CVac[TM ] ovarian cancer therapy treatment. It has completed two successful clinical trials and is progressing toward eventual commercialisation in the United States, Australia, Europe, and globally.
The Company’s broader, long term goal is to develop commercial cancer treatment technologies and programs for global markets.
Prima BioMed Ltd , Level 7, 151 Macquarie Street, Sydney NSW 2000 Phone: +61 2 9276 1224 Fax: +61 2 9276 1284 www.primabiomed.com.au ABN: 90 009 237 889