Prima applies for IND

Sydney’s Prima BioMed has begun the application process for an investigational new drug with the US FDA for its CVac ovarian cancer adjuvant vaccine.

The Sydney company has also raised an extra $1.5 million from a significant new investor, on top of the $12 million funding facility it secured from investment back Fortrend Securities in March.

Prima is also offering a share purchase plan for existing shareholders to help fund its upcoming pivotal trial.

The company is treating one patient in Australia under the TGA’s special access scheme and has progressed through early stage trials.

CVac is a vaccine administered after surgery and chemotherapy to delay relapse and control metastases. It consists of a mannan fusion protein to target mucin 1 on cancer cells, which stimulates the immune system to attack the tumour.