$21m placement completed, page-2

ASX/Media Release (Code: PRR)
26 May 2011
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR TO
US PERSONS
PRIMA BIOMED COMPLETES $21 MILLION PLACEMENT
Australian healthcare company Prima BioMed Ltd (ASX: PRR) (Prima) is pleased to
announce that it has successfully completed the placement of new ordinary shares
that was announced on Wednesday 25 May 2011 (the Placement).
Following strong demand from new and existing Australian and international
investors the transaction size was increased from $18 million to $21 million (before
costs).
Settlement of the Placement will occur on Tuesday 31 May and the Placement
shares are expected to be allotted on Wednesday 1 June. The Placement Shares will
rank equally with existing Shares on issue.
The issue price of $0.28 under the Placement represented an 18.8% discount to the
volume weighted average price for the five day period up to and including Tuesday
24 May 2011.
Joint lead managers and joint bookrunners for the Placement were Deutsche Bank
AG, Sydney Branch, and Ord Minnett Limited.
The Placement funds will be used by the Company in its ongoing development of the
CVacTM immunotherapy ovarian cancer vaccine1, including its Phase III clinical trials,
and also to provide working capital for the Company.
Prima Biomed CEO Martin Rogers said: �We have been delighted by the level of
investor response and uptake in the Placement. The funds raised will be utilised in
our continued development of the CVacTM ovarian cancer vaccine, in particular the
800 patient, Phase III clinical trial which is due to commence patient recruitment in
the near future.�
Also, as announced on Wednesday 25 May, existing eligible shareholders will have
an opportunity to purchase up to approximately $15,000 of Shares per eligible
shareholder under a Share Purchase Plan at the same price $0.28 as the Shares