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PBMD NEW 6k New Acquisitions should bring milestones from the looks and the company is not being bought with shares of PBMD so no dilution.
The part I liked about the milestones
Draft ASX/Media Release (Code: ASX: PRR; NASDAQ: PBMD)
2 October 2014
PROPOSED ACQUISITION OF IMMUTEP
Highlights
•
Prima to acquire French biopharmaceutical company Immutep SA for up to US$28M
•
Expands presence in the rapidly growing immuno-oncology industry
•
Diversifies product pipeline and provides partnerships with global pharma companies
•
Potential revenue streams through milestone payments and licensing agreements
•
Up to US$37.4M funding from US institutional investor Bergen
SYDNEY, AUSTRALIA - Prima BioMed Ltd (ASX: PRR; NASDAQ: PBMD) (“Prima” or the “Company”) announces that it has reached an agreement to acquire Immutep SA (“Immutep”), a late stage privately owned biopharmaceutical company in the rapidly growing field of immuno-oncology (“Acquisition”). Prima will pay consideration of up to approximately US$28 M through a combination of cash, shares and warrants subject to the achievement of certain performance milestones. The transaction is to be funded via an investment agreement with Bergen Global Opportunity Fund, LP (“Bergen”).
Immutep has been developing a number of complementary types of cancer immunotherapies based on its patented Lymphocyte Activation Gene 3 (LAG-3) technology. Its lead product IMP321 has been tested in various clinical trials to date, both alone and in combination with other therapies. Immutep holds the world-wide rights (ex China and Taiwan) to commercialise IMP321. This includes trials in chemo-immunotherapy, a combination of immunotherapy and chemotherapy which significantly enhances patients’ immune response to cancers.
Lucy Turnbull, Chair of Prima BioMed, said: “This is the most significant announcement in Prima’s history. It is the result of a long and diligent search process led by new Chief Executive Marc Voigt as part of our business development program. It considerably strengthens our position in immuno-oncology, which is forecast to grow to a US$35B industry by 20231.
“It significantly expands our clinical development product portfolio to other categories of immunotherapies beyond cancer vaccines, which includes our current lead product CVac. It also provides us with partnerships with several of the world’s largest pharmaceutical companies,” she said.
1 Citi Research, 22 May 2013 – “Immunotherapy – The Beginning of the End”
Prima BioMed Ltd, Level 7, 151 Macquarie Street, Sydney NSW 2000
Phone: +61 2 9276 1224 Fax: +61 2 9276 1284
www.primabiomed.com.au ABN: 90 009 237 889
Immutep’s development partnerships, which will provide future milestone payments and royalties to Prima, include:
•
IMP321: a Phase II chemo-immunotherapy trial combining IMP321 with first line chemotherapy for metastatic breast cancer (“MBC”) in partnership with Chinese pharma company Eddingpharm. Eddingpharm has exclusively sub-licensed IMP321 for development in China, Hong Kong, Macau and Taiwan and this could result in undisclosed milestone payments and royalties. Prima will take over responsibility for the development of IMP321 in the rest of the world;
•
IMP731: a Phase I clinical trial program in auto-immune diseases in partnership with GlaxoSmithKline (“GSK”) with potential milestone payments of up to approx. US$100m and additional royalties;
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IMP701: an immune checkpoint blocker pre-clinical program in cancer immunotherapy partnered with CoStim (Novartis). Financial details are undisclosed but include milestone payments and royalties.
In addition, Immutep currently generates modest revenues from commercial sales of LAG-3 research reagents.
The completed Phase II trial of IMP321 in MBC demonstrated a doubling of the tumour response rate in 30 patients treated with chemo-immunotherapy versus chemotherapy alone. Planning for a new Phase II clinical trial program with IMP321 in chemo-immunotherapy or in other combinations will commence following completion of the transaction.
Marc Voigt, Chief Executive of Prima, said: “This presents a major opportunity to grow and strengthen the Company. It provides Prima with a diverse pipeline of early- and mid-stage development candidates and the opportunity to develop other pre-clinical candidates. This is based on a technology which has been endorsed by several major pharmaceutical companies. Through strategic partnerships with these companies we also now have potential near term and future revenue streams with no development cost to Prima.
“Through this transaction, combining experience of personalised cancer therapy at Prima Biomed with the immunotherapy innovation and expertise of novel cancer targets at Immutep, Prima steps to the forefront of cancer immunotherapy development, including mono-therapy and combined approaches. This is a very exciting prospect,” he said.
Immutep has a R&D laboratory outside Paris, France where additional research projects for its LAG-3 technology are being explored. Immutep has 11 patent families covering its technology which are all exclusively licensed or owned, with one jointly owned with the Institut National de la Santé et de la Recherche Médicale (“INSERM”), a major French public health research organisation.
John Hawken, Chief Executive of Immutep said: “I have every confidence in the Prima team and it gives me great personal satisfaction to hand over Immutep to Marc and his colleagues.”
Immutep’s founder and Scientific and Medical Director, Professor Frédéric Triebel will join Prima as its Chief Scientific Officer, along with his scientific team, to oversee the LAG-3 development program and to advise on the ongoing development of CVac. Professor Triebel, an eminent scientist in cancer immunotherapy, originally developed the LAG-3 technology in collaboration with the Institut Gustave Roussy (IGR), one of the world’s leading cancer-research institutes based in Paris, and Merck Serono. He was Professor of Immunology at Paris University and a Director of an INSERM Research Unit from 1991-1996 prior to founding Immutep in 2001.
Commenting on the transaction, Prof. Triebel said: “The team is very excited about joining Prima. We believe that the combination of therapies targeting different tumour escape mechanisms is about to change the way we treat a complex disease such as cancer. In immuno-oncology combination is key.”
Acquisition funding
The total consideration of up to approximately US$28 M will be funded with:
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up to US$18 M in cash, partly based on the achievement of key milestones;
•
the issue of Prima Ordinary Shares totalling approximately US$3 M and based on a VWAP calculation; and
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the issue of 200 M warrants equating to a consideration value of approximately US$7 M.
In order to fund the acquisition and provide ongoing working capital, Prima has secured an investment agreement with Bergen Global Opportunity Fund, LP (“Bergen”), a New York institutional investor managed by Bergen Asset Management for up to US$37.4 M over a 24-month period (the “Funding”). Details of the Funding are set out in a separate announcement lodged with the ASX simultaneously with this announcement.
The Acquisition is conditional on obtaining shareholder approval at the Company’s AGM for an increase in its share placement capacity in order to fund the Acquisition.
About Immunotherapy and LAG-3/IMP321
Immunotherapy is a process whereby a disease such as cancer is treated by either activating or suppressing components of the immune system to generate a response. LAG-3, or Lymphocyte Activation Gene 3, is able to stimulate and in other cases inhibit an immune response, through involvement in a number of immune pathways.
Immutep’s lead product IMP321 (a LAG-3Ig fusion protein) works by binding to a receptor on antigen presenting cells (APC’s) such as dendritic cells to activate them. The APC’s are important for showing cancer antigens to T cells and activating them to destroy cancer cells. IMP321 is a first-in-class APC activator.
Immutep’s other products include IMP701, an antagonist antibody that acts to stimulate T cell proliferation in cancer patients, licensed to CoStim (Novartis) and IMP731, a depleting antibody that removes T cells involved in autoimmunity, licensed to GSK. In addition, there is the potential for a number of other products coming out of the company’s research efforts.
Details for a conference call to discuss the acquisition of Immutep will be announced in the coming days.
About Prima BioMed
Prima BioMed is a globally active leader in the development of personalized immunocellular therapeutic products for the treatment of cancer. Prima is dedicated to leveraging its technology and expertise to bring innovative treatment options to market for patients and to maximize value to shareholders. Prima’s lead product is CVac™, an autologous dendritic cell-based product currently in clinical trials. www.primabiomed.com.au
For further information please contact:
USA Investor/Media:
Adam Holdsworth, ProActive Capital
+1 (646) 862 4607; adamh@proactivecapital.com
Australia Investor/Media:
Mr Matthew Gregorowski, Citadel Communications
+61 (0) 422 534 755; mgregorowski@citadelpr.com.au
Europe Investor/Media:
Mr. Axel Mühlhaus, edicto GmbH
+49 (0) 69 905505-52; amuehlhaus@edicto.de
#802 MG Trader - 360 TIA\
Sheep I took 15% profit and sold AH today, may go much higher but 15% of a sure thing is fine by me. BOL seems to be holding fine at the moment.
Quite a mess with the sheep being fed BS and voting in guys with no experience at anything and worse yet not willing to listen to those with experience and expertise.
Obama Leading from behind all the time is akin to the sheep leading the shepherd. Our policy is one of reaction to events not to proaction and thoughtful planning.
incubus - luckily for me I retired out in 1991. Luckily also Bush signed my retirement papers, NOT Clinton, or the current disgrace.
Maj Gen Keane was on Fox the other night and he openly said that Obama has an open dislike of the military and now the feeling has become very mutual.
Bol pray for a rapid return to sanity and the US Sheepable to quit getting BSed into voting for these incompetent leaders.
Commander in Chief-
yeah right, one who dislikes the military intensely except for political reasons
If this guy knew anything at all about the military and military courtesy he would not salute with a coffee in his right hand. Reminds me of Clinton who at first saluted with his left hand before being given a class on military courtesy.
This clip of Obummer getting off Marine 1 is totally disrespectful and merely displays his ignorance of the military!
http://abcnews.go.com/blogs/politics/2014/09/president-obama-gesture-to-marines-dubbed-latte-salute/
#1475 retribution - TIA for the 360
T2M
THLD Sheff thanks much for that article, I'm just holding it and patiently waiting on it. Nice article thx again
T2M
PBMD imo you entered at an opportune time and if done in tranches should get a nice reward longer term. jmho (long term holder)
Kei all look good from a catalyst stand point. I have AEZS and have for months waiting for the run up to the Nov cat.
Penny Picks #804 4 u buddy
TIA
T2M
Georgi #191 4 u TIA buddy
T2M
Georgi - #413 TIA
Trade2much
OREX CNBC audio - seems to like this one now. We shall see but after the drop yesterday if may well work out in the not too distant future according to the analyst anyway.
http://video.cnbc.com/gallery/?video=3000309687&__source=yahoo|headline|quote|video|&par=yahoo#.
**This will take a few seconds for the clip to load but after the 30 sec ad it is a good synopsis of the stock. jmho
THLD reentered earlier today at 4.76 going to see how we do with this floor going into the catalyst eom.
Sheff Kudos on the call - I am totally out again since my rather tight stop fired off. Luckily since it since has gone down another .25.
THLD So far premarket's 3.30 reentry in a different account is holding, jmho but should have a decent showing today and if the ph 3 is good Katy Bar the door.
CBeeson - I reentered 1/3 of the quantity I just sold off @5.30 now to wait and see again. Should have a decent day and with the PT of 14 now and a PH3 eom it has a ton of room to go imo. I am happy with lesser gains anyway, I love doubles and singles, not much on homeruns. lol
Cancer is a huge potential if they luck out on it with PH3.
BOL
THLD Took 34+% gain at 5.49 premarket. Nice call Sheff, this looks like it well could have more legs but I am just avoiding greed with a nice gain.
With a PT of 14 this could fly a lot higher.
#429 4 u buddy
HEB Sold 1/3 at .35 25% gain premarket.
HEB (source is Finviz)
Hemispherx Biopharma and United States Army Medical Research Institute of Infectious Diseases (USAMRIID) Agree to Collaborate in Studying Alferon(R) and Ampligen(R) Against the Ebola Virus
Ebola Studies to be Conducted at USAMRIID's Laboratories at Ft. Detrick, Maryland
Hemispherx Biopharma, Inc. 20 minutes ago GlobeNewswire
PHILADELPHIA, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Hemispherx Biopharma, Inc. (NYSE MKT:HEB) (the "Company" or "Hemispherx"), announced that the Company and USAMRIID scientists have agreed to test Alferon(R), the only multi-species, natural alpha interferon (IFN) commercially approved in the U.S. and Ampligen(R), an experimental drug, to be evaluated against the deadly Ebola virus, which has been and remains a major focus of efforts at USAMRIID, a unit of the Department of Defense responsible for medical biological defense research.
USAMRIID reported in July of this year (http://www.usamriid.army.mil/press_releases/Randy_Final_EID_July_2014.pdf) that samples from suspected Lassa fever cases in Sierra Leone showed that about two-thirds of the patients had been exposed to other emerging diseases, and nearly nine percent tested positive for Ebola virus. The study, published in this July's edition of Emerging Infectious Diseases, demonstrates that Ebola virus has been circulating in the region since at least 2006—well before the current outbreak, which is responsible for over 1000 deaths according to the WHO. Consequently, Ebola has been and remains a major focus of efforts at USAMRIID and the Department of Defense.
Early events in Ebola virus infection influence the patient's ability to develop an effective immune response. The success of Ebola virus replication is dependent on viral inhibition of initial innate immune responses to infection. Disarming innate immune responses is a common mechanism employed by highly pathogenic human viruses that include the influenza and corona viral families. Ebola counteracts the host innate immune response by blocking the cellular production of Type I IFN.
A key component of innate immune responses is activation of the Toll-like receptors (TLRs). TLR3 activation by dsRNA is an essential response element to viral infection. Block TLR3 activation and an essential element of the innate immune response is disarmed. Ampligen, Poly I:Poly C12U (rintatolimod) was designed as an IFN inducer and has demonstrated antiviral activity in a wide variety of DNA and RNA viruses in pre-clinical testing. Replenishing an Ebola patient's natural interferon with Alferon and restoring that patient's innate immune response by Ampligen's overcoming the Ebola blocking mechanisms could potentially reduce the morbidity and mortality of Ebola virus disease.
About Alferon(R) N
Alferon(R) N is the only natural source, multi-species alpha interferon currently approved for sale in the U.S. Alferon(R) N is approved in the U.S. only for the treatment of refractory or recurring external genital warts caused by human papilloma virus in patients 18 years of age or older.
About Ampligen(R)
Ampligen(R), an experimental therapeutic, is a new class of specifically-configured ribonucleic acid (RNA) compounds targeted as potential treatment of diseases with immunologic defects and/or viral causation.
About USAMRIID
Since 1969, USAMRIID has served as the Department of Defense's (DoD) lead laboratory for medical biological defense research. While its core mission is to protect the warfighter from biological threats, it also investigates disease outbreaks and threats to public health. Research conducted at USAMRIID leads to medical solutions—therapeutics, vaccines, diagnostics, and information—that benefit both military personnel and civilians. USAMRIID is a subordinate laboratory of the U.S. Army Medical Research and Materiel Command.
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders. Hemispherx's flagship products include Alferon N Injection(R) and the experimental therapeutics Ampligen(R) and Alferon(R) LDO. Ampligen(R) is an experimental RNA nucleic acid being developed for globally important debilitating diseases and disorders of the immune system, including Chronic Fatigue Syndrome. Hemispherx's platform technology includes components for potential treatment of various severely debilitating and life threatening diseases. Because both Ampligen(R) and Alferon(R) LDO are experimental in nature, they are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials. Hemispherx has patents comprising its core intellectual property estate and a fully commercialized product (Alferon N Injection(R)), approved for sale in the U.S. and Argentina. The Company's Alferon(R) N approval in Argentina includes the use of Alferon N Injection(R) (under the brand name "Naturaferon") for use in any patients who fail, or become intolerant to recombinant interferon, including patients with chronic active hepatitis C infection. The Company wholly owns and exclusively operates a GMP certified manufacturing facility in the United States for commercial products. For more information please visit www.hemispherx.net
Disclosure Notice
Information contained in this news release, other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risk of competition, changing market conditions, changes in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. The final results of these efforts and/or any other activities could vary materially from Hemispherx's expectations. In vitro experiments are not necessarily predictive of clinical outcome and no representations are made that any products described in this release will be ultimately determined safe and effective in the prevention and/or treatment of the Ebola virus. Moreover, it would take time, testing and funds to obtain approval of any such product and there are no assurances that a commercial approval for treatment of the Ebola virus can be obtained.
Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "potential," "potentially," "possible," and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Hemispherx that any of its plans will be achieved. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond Hemispherx's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Examples of such risks and uncertainties include those set forth in the Disclosure Notice, above, as well as the risks described in Hemispherx's filings with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Hemispherx undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise revise or update this release to reflect events or circumstances after the date hereof.
View photo
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Contact:
Company/Investor Contact:
Charles Jones
CJones & Associates Public Relations
Office: 888-557-6480
Cell: 305-987-7418
Email: cjones@cjonespr.com
Rates
Marked u #121 buddy
AEZS Carlc- Just was told this one will have the PDUFA but not an ADCOM catalyst, so the lead up to the Nov PDUFA is the known catalyst.
Sheff TY for that I do recall it now.
BOL
AEZS Didn't recall that coming out before but I have been lapse in my market attention due to golf and vk - thanks for the info on the nooo adcom.
AEZS -a biotech with good potential and a NOV PDUFA along with a very possible ADCOM announcement in advance of that. Recent article place value at roughly 3x current. Last stock offering was @ 1.30 stock currently at
$1.40 - watch this one should be interesting before long. Bios are volatile as heck so keep your eye on it for better (a jump day of approval), or in the case of a failed drug worse on the day of failure.
jmho BOL
AEZS Today's opening premarket bid is up .05 from the close on no news. Hmmm today could be a good day. Still waiting on an ADCOM announcement that should make for some excitment. jmho
Long TY
BTM TY BOl
User TY
Wizard #53 4 u TIA buddy
User 199 4 u tia buddy
BTM #44 4 U TIA buddy
Long 129 4 u TIA buddy
Musthave - taking profit is great and had someone bought this around 1.10 area recently they now would now have a great one 34%++. It is very understandable and good trading to avoid greed and from the looks and volume today a fair number did like you did.
BOL
AEZS This chart shows the 3 yr history - we are a far cry from previous heights and a recent article has a 3x target over recent price. I would buy it soon since it was not very long ago it was in the 1.40s and it is past its recent stock issue for $$. BOL
GAPS usually fill and this chart shows a beauty.
3 year chart
AEZS <Link back> it is starting to move due to Nov PDUFA JMHO
AEZS <Link back> it is starting to move due to Nov PDUFA JMHO