Prima BioMed First Quarter Report, Management Conference Call and CVac Program Update

Prima BioMed First Quarter Report, Management Conference Call and CVac Program 
Update 
SYDNEY, AUSTRALIA -- (Marketwired) -- 10/31/13 --  Prima BioMed Ltd
(ASX: PRR) (NASDAQ: PBMD) (ISIN: US74154B2034) ("Prima", the
"Company") yesterday released its Appendix 4C - Quarterly Report for
the first quarter of financial year 2014, the three month period
ending 30 September 2013. 
The Company ended the quarter with approximately A$31.37 million in
cash and term deposits. 
Webcast and Conference Call Information
 Prima's management will hold
a conference call to discuss first quarter financial results and
provide a thorough update of its clinical development plans on
November 7, 2013 at 9:00am (Sydney local time). This corresponds to
Wednesday, November 6, 2013 at 5:00pm U.S. Eastern standard time. The
Conference call dial-in numbers are as follows: 
Australia Toll Free 1 800 131 617
 Australia Alternate Toll Free 1
800 838 758
 USA & Canada 1 855 237 2970
 Germany 0800 189 9369  
The call will also be audio webcast with additional supplemental
slides available via
http://services.choruscall.com/links/primabiomed131106.html. Before
launching the webcast, it is recommended to click on the link and
then on "test your systems configuration." 
A replay and a transcript of the teleconference will be available
through Prima's website following the live event. 
Operational Highlights of the First Quarter 
Share purchase plan "shortfall" placement. Proceeds of approximately
A$6.8 million were received during July and August 2013 as a result
of share purchase plan "shortfall" placements to sophisticated
investors. 
CAN-003 analysis and the ovarian cancer clinical research program. On
September 18, 2013, Prima reported top-line analysis of the CAN-003
phase 2 study evaluating the effects of CVac, as compared to an
observation-only control arm, in epithelial ovarian cancer patients
in complete remission after first or second line treatment. Prima's
management delivered a presentation of the top-line analysis via
webcast and teleconference on October 2. 
As advised, Prima will continue monitoring patients from the CAN-003
trial for overall survival data. It is expected that this data will
be mature enough for evaluation by approximately the end of calendar
yea
r 2014. Further detailed analysis of immune monitoring is ongoing. 
To date, the intracellular cytokine staining data indicate that CVac
increases T cell activity directed at mucin 1. Prima believes that
stimulating mucin 1-specific T cells will result in clinical benefit
for ovarian cancer patients. A strong trend of improved
progression-free survival in second remission patients was observed;
although in the combined data of all patients on the trial, there was
no observed PFS improvement. 
CAN-004 ("CANVAS") clinical trial. Because the phase 2/3 CANVAS trial
was designed to evaluate progression-free survival as the primary
endpoint, Prima suspended enrollment of new patients on to this trial
as of September 18. As of that time, 113 patients had been screened
at 34 sites in seven countries. Of those patients, 76 patients had
met all study criteria, had been randomized, and are in various
stages of their first-line treatment. According to the trial design,
patients should complete first-line therapy and achieve complete
remission prior to entering the dosing stage of the trial. Thirteen
patients have completed their first-line therapy and moved on to the
dosing part of the CANVAS trial. 
Termination of Oncothyreon Inc. License. As of October 2, Prima and
Oncothyreon Inc. (previously Biomira, Inc.) agreed to terminate a
License and Development Agreement, and all subsequent amendments
thereto (collectively "Agreements"), related to a purported license
of mucin 1 technology for use in CVac. The now terminated Agreements
could have been construed as requiring Prima to pay up to US$8.5
million in research milestones and continued royalties on commercial
sales of CVac. The termination clarifies that Prima has no ongoing
obligations to Oncothyreon Inc. 
In the event that CVac would be approved for sale in the United
States prior to 2018, when certain patents related to mucin 1
controlled by Oncothyreon Inc. expire, Prima may need to obtain a
license from Oncothyreon Inc. related to use of mucin 1. Mucin 1
patents expire in Canada in 2014 and are already expired in all other
countries. 
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(TM), an autologous dendritic cell- based product
currently in clinical trials. 
For further information please contact: 
USA Investor/Media:
Ms. Jessica Brown
Prima BioMed Ltd.
+1 (919) 710-9061
jessica.brown@primabiomed.com.au  
Australia Investor/Media:
Mr. James Moses
Mandate Corporate
+61 (0) 420 991 574
james@mandatecorporate.com.au  
Europe Investor/Media:
Mr. Axel Muhlhaus
edicto GmbH
+49 (0) 69 905505-52
amuehlhaus@edicto.de