4.1 million grant to help fund program!! buy

Australian healthcare company Prima BioMed Ltd (ASX: PRR) (Prima) is pleased to announce that it has been awarded a EUR 4.1 million grant to help fund its clinical program in Europe for the CVacTM immunotherapy ovarian cancer vaccine.


Key points

? Prima and Fraunhofer Institute of Cell Therapy and Immunology (Fraunhofer IZI) have been awarded a EUR 4.1 million (A$ 5.35 million) grant to support the upcoming clinical trial of CVac? in ovarian cancer.
? Prima and Fraunhofer IZI submitted a joint project proposal to cover the costs of CVac? materials, CVac? manufacturing, staffing costs, as well as some of the clinical procedure costs of the trial.
? Prima and Fraunhofer IZI will be reimbursed for eligible costs as they are incurred in the project, up to the amount of the grant. The grant will reduce costs of clinical program for CVac? in Europe.
? Funds for the grant were provided by the European Union and the German Free State of Saxony and administered by the Saxony Development Bank.
? The grant is merit-based and provides funding for specific projects that demonstrate the potential to further economic development in Saxony, and was awarded by the State Ministry for Higher Education, Research and the Arts (or SMWK) of the Free State of Saxony in Germany.
? The grant will be presented by Professor Dr Sabine von Schorlemer, Minister of Higher Education, Research and the Arts of the Free State of Saxony, on August 8 in Leipzig, Germany.