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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.

Prima BioMed CEO, Martin Rogers, said: �Prima is delighted to receive this support from the SMWK in Saxony and our continued work with the Fraunhofer IZI. The grant of EUR 4.1 million provides benefit to Prima BioMed�s shareholders and helps to finance our goal of bringing CVac� to market for ovarian cancer patients.�

About CVac�
CVac� is Prima BioMed�s core product. It is a vaccine therapy treatment for ovarian cancer sufferers that is administered post-surgery and post-chemotherapy to delay the relapse and control the metastases of the cancer. There is a large un-met medical need for new treatments for ovarian cancer which has a very high morbidity rate, and there are currently no maintenance-based therapy products commercially available. The Company has commenced its Phase IIb Trial for CVac� with the US FDA and plans to commence a Phase III Clinical Trial for CVac� in Europe this year. The Phase IIb and Phase III Trials aim to further confirm the ability of CVac� to reduce the instance of relapse in ovarian cancer patients, control the metastases of the cancer and increase the life expectancy of patients. Prima�s ultimate goal is to commercialise CVac� into the multi-billion dollar global pharmacy oncology market. The global market for ovarian cancer therapeutics was valued at US$2.1b in
2007 and was estimated to have grown to US$3.6b by 2010.

For further information please contact:
Mr Martin Rogers James Moses
Chief Executive Officer Investor and Media Relations
Prima BioMed Mandate Corporate
Ph: +61 428 268 357 Ph: +61 420 991 574
E: [email protected] E: [email protected]
Website: www.primabiomed.com.au

Regards

James Moses
Managing Director
Mandate Corporate
M: +61 420 991 574
T: +61 2 8012 7702
E: [email protected]

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