05.05.2011? As Prima BioMed Ltd.?s (ASX:PRR) Nasdaq listing application moves forward, the company continues vigorous pursuit of other strategies to enhance its existing Australian bourse listing and worldwide presence. The Melbourne-based biotech?s premier development is Cvac?, an ovarian cancer immunotherapy drug designed as a follow-on drug maintenance therapy to help enhance post-chemotherapy remission and prevent tumor recurrence. This sets the cancer vaccine specialist in a medical niche area in which there are no approved competitors. Cvac? is now approaching global Stage III trials, with favorable reports to date.
Prima subsidiary Cancer Vac Pty, Ltd. recently announced receipt of a Japanese patent award for Cvac?, principally for its vaccine-making properties. The drug uses the patient?s own dendritic cells to generate the vaccine. Dendrites are the branching parts of nerve cells.
Besides the potential for reducing human suffering on a broad scale, Prima BioMed?s efforts knock on the door of major economic gain for the company. The American Cancer Society estimates that in the U.S. alone there are about 25,000 new ovarian cancer diagnoses annually. Ninety percent of these are diagnosed are above the age of 40. Considering the boomer-driven size of this related group, Prima?s therapy, once approved, is likely to see continual growth of its addressable market. Moreover, the most common type of ovarian cancer is of an epithelial nature in 85-90% of cases, the area on which Prima?s Cvac? is focused.
The closest comparable drug to Prima?s Cvac? may be Dendreon?s Provenge?, a prostatic anti-cancer drug. National Securities Corporation?s analyst arm (NSC has close financial ties to Prima) uses the Dendreon (NASDAQ: DNDN) Provenge? example to forecast dramatic increases in Prima?s EPS values, referring to Cvac? as a potential ?blockbuster drug?. Provenge?, though not occupying the therapeutic niche targeted by Prima, uses a proven and approved technology similar to Prima?s Cvac?. When Provenge? successfully completed its Phase III trial, Dendreon shares saw a stunning tenfold move from March to May of 2009. The stock then doubled the following year with price remaining relatively stable since. Illustrative of a stock being a discounting mechanism of future profitability, it is worth noting that those share gains took place when Dendreon was only producing enough of the drug for 2,000 patients.
To view the Prima BioMed pipeline, please visit the ProActive Newsroom.
Prima?s Cvac? immunomodulator drug enables macrophage (killer cell) recognition of tumor markers on the surface of tumor cells. Its Cripto-1 project uses monoclonal antibodies (Mabs) to induce cancer cells to self-destruct in a process known as apoptosis by interfering with essential signaling mechanisms between cancer cells and their environment. Prima?s HPV (human papilloma virus) vaccine pipeline component is aimed at prevention of the viral infection as HPV is known to have a close prodromal relationship with pelvic cancers.
Anti-cancer immunomodulator therapy has a venerable history, going back to the 1800s. Famous Russian writer Anton Chekhov, who was also a physician, noted in 1884 how erysipelas infections (streptococcal bacterial skin infection, ?cellulitis?) sometimes caused cancer remission. Amplifying this theme, Chekhov contemporary Dr. William Coley in 1891 began deliberately infecting cancer patients with various pathogens, with some success, in a protocol known as Coley?s Toxins, which were actually available through now Pfizer (NYSE: PFE) subsidiary Parke-Davis Company for treatment of various cancer types through 1963. Prima?s methodology differs, of course, but much of its technology benefited from those early efforts.
Prima?s Nasdaq application is being shepherded by Bank of New York Mellon and New York-based National Securities Corporation. Prima intends to maintain dual Nasdaq/ASX listing of its stock, with one NASDAQ share for every ASX share. Prima?s Australian shares closed Wednesday at $0.34 AUD.
PRR Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
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