23 February, 2006. Melbourne, Australia: Prima Biomed Limited (ASX: PRR) today announced that its Phase IIa clinical trial for ovarian cancer has completed recruitment allowing clinical investigators to prepare the analysis of the trial.
"Closing patient recruitment is a crucial point in the clinical trial process, especially as recruitment was completed within the forecast timeframe. Closing recruitment also provides us with a greater ability to forecast the finish of the treatment component of the trial and reduces cash burn for the company," said Marcus Clark, CEO of Prima.
"This represents a major milestone for our CancerVacTM technology and we are now able to focus on finalising the report after the last patient has finished treatment which we expect later this year as previously forecast."
"In the event of positive trial results, Prima plans to embark on a pivotal study in ovarian cancer which is expected to lead to the eventual launch of the product in Australia. Planning outside Australia revolves around our partner Biomira Inc. who will be reviewing the final report to decide whether to exercise their right to in-license the CancerVacTM technology" said Executive Chairman, Eugene Kopp.
Cancer cells evade detection by the immune system. Prima's cell based therapy, CancerVacTM, involves training or stimulating the patient's own immune system to attack cancer cells. It works by targeting a protein called Mucin-1 that is commonly found in large quantities on many kinds of cancer.
Prima has an exclusive worldwide license to Mucin-1 from Biomira for use in its dendritic cell therapy for the treatment of cancer. Biomira has an option to secure commercialization rights for the technology worldwide, except for Australia and New Zealand, for which Prima has retained the rights.
For further information:
Company Contacts:
Company Enquiries Marcus Clark or Dr. Emma Ball 03 9854 5700
Media Enquiries Rebecca Wilson 0417 382 391
This press release contains forward-looking statements that are based on current management expectations. These statements may differ materially from actual future events or results due to certain risks and uncertainties, including without limitation, risks associated with drug development and manufacture, risks inherent in the extensive regulatory approval process mandated by the United States Food and Drug Administration and the Australian Therapeutic Goods Administration, delays in obtaining the necessary approvals for clinical testing, patient recruitment, delays in the conduct of clinical trials, future capitals needs, general economic conditions, and other risks and uncertainties detailed from time to time in the Company's filings with the Australian Stock Exchange
About Prima Biomed Ltd
Prima Biomed (ASX: PRR) is a biotechnology company based in Melbourne, Australia and is developing technologies in the fields of immunology and cancer immunotherapy originating from the Austin Research Institute in Melbourne now merged with the MacFarlane Burnet Institute of Medical Research and Public Health.
For further information, visit www.primabiomed.com.au
