today's australian

Prima's cancer research earns a tick from Alpha

Print CITY BEAT: Rebecca Urban | July 03, 2009
Article from: The Australian
REGULAR users of internet chat forums have been inspired by the latest research report on cancer drug hopeful Prima Biomed.

Boutique broking and adviser Alpha Securities has penned a few words on the Melbourne biotech that has won backing from Lucy Turnbull and former television executive turned investor Laurence Freedman.

Alpha reckons the company's establishment of a

$12 million facility earlier this year has largely addressed its funding risk and will ensure that its pivotal phase II and III trials can go ahead.

"The company had initially expected to conduct trials on 340 patients over three tranches, although based on discussions with the (US Food and Drug Administration), the company may only need to conduct a randomised 60-patient trial," the report says. "The trial is likely to require 15 sites in the US and 15 sites in Australia and New Zealand."

"An excellent read," posted one particularly enthusiastic blogger.

We assume it's an accurate read, too, given Alpha's cosy relationship with Prima.

Alpha entered into an $80,000 consultancy agreement with Prima in April, with a mandate to promote the company.

Good to see that it is busy earning the two million shares it has since acquired in lieu of cash.