IMMUTEP LIMITED — Capital/Financing Update 2011

Aug 4, 2011

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ASX/Media Release 5 August 2011

EURO 4.1 MILLION GRANT TO SUPPORT CVAC

• Prima and Fraunhofer Institute awarded EUR 4.1 million (A$ 5.35 million) to support the upcoming clinical trial of CVac™ in ovarian cancer

• Research & development grant awarded by the Saxony Staatsministerium für Wissenschaft und Kunst

• Grant reduces costs of clinical program in Europe

• Prof. Dr. Dr. Sabine von Schorlemer, Minister of Higher Education, Research and the Arts of the Free State of Saxony, will present the award on August 8[th] in Leipzig, Germany.

Australian health care company Prima BioMed (Prima) (ASX: PRR) is pleased to announce that the Staatsministerium für Wissenschaft und Kunst (the State Ministry for Higher Education, Research and the Arts or SMWK) of the Free State of Saxony, Germany, has granted a EUR 4.1 million award to fund parts of the CVac™ clinical program in Europe.

This research and development grant program is merit-based and provides funding for specific projects that demonstrate the potential to further economic development in Saxony. Prima and the Fraunhofer Institute of Cell Therapy and Immunology (Fraunhofer IZI) submitted a joint project proposal to cover the costs of CVac™ materials, CVac™ manufacturing, staffing costs in Saxony, as well as some of the clinical procedure costs of the trial. Prima and Fraunhofer will be reimbursed for eligible costs as they are incurred during the project, which will decrease Prima’s cash requirements for the CVac™ program by approximately A$ 5.35 million.

The award is to be presented to Prima and Fraunhofer representatives by Prof. Dr. Dr. Sabine von Schorlemer, Minister of Higher Education, Research and the Arts of the Free State of Saxony, on Monday August 8, 2011 at 16:00 in Leipzig.

Funds are provided by the European Union and the German Free State of Saxony and administered by the Sächsische AufbauBank (the Saxony Development Bank). Bioville GmbH provided support to Prima and Fraunhofer IZI to prepare the grant application.

Prima BioMed’s CEO, Martin Rogers, said: “Prima is delighted to receive this support from the SMWK in Saxony and our continued work with the Fraunhofer IZI. The grant of EUR 4.1 million provides benefit to Prima BioMed’s shareholders and helps to finance our goal of bringing CVac™ to market for ovarian cancer patients.”

Dr. Gerno Schmiedeknecht, head of Department Cell Engineering at Fraunhofer IZI, said: “We are pleased to support Prima BioMed in developing the CVac™ technology. Our shared objective is to provide the promising therapy to patients rapidly.”

Chief Operating Officer and Managing Director for Europe, Matthew Lehman, said: “The overall support for Prima and our CVac™ program in the State of Saxony has been most encouraging. The region offers state-of-the-art research facilities at Fraunhofer IZI, top-tier financial support from the SMWK, the premier bio-logistics hub at Leipzig-Halle airport, and an overall environment conducive to cutting edge R&D. We are very proud to have our

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European operations in Leipzig and we are committed to our long term success in the region.”

ENDS

For further information please contact: Martin Rogers Mr James Moses Chief Executive Officer Investor and Media Relations Prima BioMed Mandate Corporate Ph: +61 2 9276 1242 Ph: +61 (0) 420 991 574 E: martin.rogers@primabiomed.com.au E: james@mandatecorporate.com.au

About CVac™ Ovarian Cancer Treatment

CVac™ is Prima BioMed’s lead product. It is of key importance as there is a large un-met medical need for new treatments for ovarian cancer which has a very high morbidity rate. CVac™ is a maintenance therapy administered post-surgery and post-chemotherapy to delay relapse and control metastases.

There are currently no products available as maintenance based therapies for 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 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 the CVac™ 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.

About Fraunhofer Institute for Cell Therapy and Immunology

The Fraunhofer Institute for Cell Therapy and Immunology IZI is located in Leipzig, Germany. Its objective being to find solutions to specific problems at the interfaces between medicine, life sciences and engineering for partners active in medicine-related industries and businesses. The Institute’s core competencies are to be found in regenerative medicine, or more precisely in cell-therapeutic methods of regenerating non-functioning tissue and organs through to the biological substitution with tissue cultivated in vitro (tissue engineering). The Institute works especially closely with hospital institutions, performing quality tests and clinical studies on their behalf. Additionally it also provides assistance in obtaining manufacturing licenses and certifications.