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prr (prima) great announcement

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    Taken from the ASX announcements. Market responding very well to announcement. Up 12%.

    Successful Stage1 results in Cancer&Rheumatoid Arthritis Pro

    Document date: Wed 10 Jul 2002 Published: Wed 10 Jul 2002 11:33:20
    Document No: 219331 Document part: A
    Market Flag: Y
    Classification: Progress Report

    HOMEX - Perth

    The CEO of Prima Biomed Ltd, Marcus Clark, today announced the
    companys commitment to the 2 nd stage of its cancer immunotherapy
    and anti inflammatory programs on the back of extremely successful
    results in the first 12 months.

    "Our first year's research programs for Cancer Vac and Arthron have
    all met or exceeded their respective milestones and have been fully
    reviewed by the Austin Research Institute and the company's
    Scientific Advisory Panel. These results represent a major
    achievement for Prima Biomed and its scientists".

    The clinical trial results from the cancer immunotherapy trial
    undertaken by Cancer Vac reported the most compelling tumour specific
    immune responses reported in the last 12 months. All patients
    produced strong immune responses to their tumours as a result of the
    administration of our proprietary stimulant through our ex vivo

    It has been decided that in advance of commencing the Phase II
    Clinical Trial later this year, a further four patients will be
    allowed to enter the current trial and up to four existing patients
    will continue their treatment. This will allow us to gain more
    information much earlier on in the clinical picture which in turn
    will provide valuable input towards the scope and design of the
    pending Phase II Clinical Trial. We have also gained further
    knowledge on how to streamline the ex vivo process and this will be
    tested in these patients.

    The drug design program, focussed on producing orally active
    molecules for the treatment of rheumatoid arthritis ("RA") and other
    such auto immune diseases, has also had significant success:-

    ?? A range of compounds have been produced that have inhibited the
    development of RA in pre-clinical models

    ?? New Intellectual Property - new product and processes has been
    extended; and

    ?? Continuing interest being received from the key pharmaceutical and
    biotechnology groups in the USA

    The world market for effective therapies for RA, estimated to be in
    excess of $A10 billion per annum, remains highly prospective for a
    compound that is orally active and not only treats active disease but
    also prevents progression of the disease. The results from the
    experiments to date are scientifically compelling and have given our
    Scientific Advisory Panel great encouragement to recommend that we
    actively proceed with the next stage of commitment. Stage II of this
    program will allow the characterisation and preclinical evaluation of
    a lead compound.

    Our DCtag technology has now been shown to be a more potent immune
    adjuvant when compared with other benchmark products. Programs to
    show protection against viral diseases and activity in cancer models
    are proceeding. Our program has progressed rapidly from mouse models
    into larger animal trials with initial results from these trials
    anticipated shortly. The DCtag cancer program is anticipated to
    include collaboration with a UK-based biotechnology company which, if
    successful, would provide an early licence opportunity for DCtag.

    Our fourth project, an anti-cancer therapeutic monoclonal antibody,
    has commenced tissue distribution studies to demonstrate
    tumour-specific binding and to satisfy FDA guidelines. We are also
    well advanced in discussions with key companies which will humanise
    the antibody to minimise allergic responses when administered to
    humans. We plan to enter into collaboration with one of these
    companies for co-development of the therapeutic antibody before the
    end of this year.

    In summary the Board and the Scientific Advisory Panel are highly
    encouraged by the progress over the past 12 months. The significant
    developments, outlined above are testimony to quality of research
    from the Austin Research Institute and the strength of our management
    team. Scientific milestones have been reached, in some cases ahead of
    expectation, and in line with budget. In addition the company remains
    on track to have commercial arrangements with respect to the projects
    in place within the timeframes originally set. Expectations for the
    next 12 months are very high.

    Inquiries: Marcus Clark Prima Biomed 03 98545700
    Rudi Michelson Monsoon Communications 03 9620 3199
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