Prima BioMed remains with Australia

1307960_lazy_kangarooPrima BioMed, the Australian cancer therapy company has no immediate plans to delist from the Australian stock exchange, The Australian reported. Read below for a short clipping of the article:

Questions have been raised recently about the depth of Australia’s investment pool for biotechnology companies after Biota last month revealed plans to delist its Australian shares and merge with Nasdaq-listed Nabi Biopharmaceuticals to help it access the US capital markets.

Last year, more than $US10 billion was raised by development-stage life science companies in the US compared with only about $600 million in Australia, Biota said.

Prima is also listed on the Nasdaq. Its securities began trading only last month.

“Our shareholder base is very, very dominantly Australian,” Turnbull said, but added: “who knows what may happen in five or 10 years time.” She said Prima was an Australian company, highlighting its close links with the Peter MacCallum Cancer Centre in Melbourne and that its cancer vaccine technology was developed by the Burnet Institute, also in Melbourne.

Read the full article here.

The BioPharma Convention Australasia 2012 will be happening on the 23-24 July 2012. It will discuss innovation and strategies for pharmas, biotechs and the R&D community. To download the agenda, click here.

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