Ann: Prima receives $1.4m R&D Tax Incentive rebat, page-5

re: Ann: Prima receives $1.4m R&D Tax Incenti... Story picked up by Proactive Investors:


Prima Biomed(ASX: PRR; NASDAQ: PBMD) has received a cash rebate of A$1.4 million under the Australian Government's R&D tax incentive program.

The cash rebate related to expenditure incurred while conducting a clinical trial of the company’s ovarian cancer treatment, CVac™, during the 2011-12 financial year.

Interim immune monitoring data from an ongoing CAN-003 clinical trial of CVac™ has shown the positive effects of the treatment on the immune system.

The current CVac™ trial is treating epithelial ovarian cancer patients in remission after first-line or second line therapy.

There is clear evidence of a cellular response to mucin 1, the antigen marker present on most ovarian cancer cells, induced by the CVac™ treatment.

Mucins line the apical surface of epithelial cells in the lungs, stomach, intestines, eyes and several other organs, and protect the body from infection.

Overexpression of mucin 1 is often associated with colon, breast, ovarian, lung and pancreatic cancers.

Importantly, the CAN-003 phase two clinical trial of CVac™ has shown evidence that patients receiving the treatment stay in remission longer than those not receiving the treatment.

Prima expects to have a full immune monitoring profile of the 63 patients in the current trial over multiple time points during and after dosing by the September quarter 2013.

This will be followed in the December quarter by final protocol analysis of progression free survival and first evaluation of overall survival.


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