Prima Biomed Ltd. (NASDAQ:PBMD), the Australia based $46.2 million market capped bio tech firm, disclosed recently that it has received a $1.6 million tax rebate from the Australian federal agencies. This reduction in tax is being offered as an incentive to the firms efforts at undertaking research and development on Australian soil to develop new age drugs. The tax break applies to overall expenditure that has been fronted by the company during 2013 to further its clinical trials.
Participation At The Regenerative Medicine Investor Day
These and other positive updates from the drug firm is expected to receive full coverage when the management team led by its CEO present to the investor community during the second edition of the Regenerative Medicine Investor Day scheduled to be held on 26th March in New York. The conference brings under one roof, financial institutions like Piper Jaffray and Maxim Group and CEO of bio tech firms which are pursuing drug development in the regenerative medicines.
Prima Biomed License Agreement With Neopharm Group Under Focus
The other development which is expected to generate a lot of investor and analyst interest is its tie up with Neopharm Group as per the terms of which, the Australian firm will be awarded license to sell a drug called “ CVac” which is still under investigation in Israel.
At the time of announcing this license agreement to the larger public, Prima Biomed Ltd. (NASDAQ:PBMD) Chief Executive Officer Matthew Lehman has been quoted to have said that, “I am very pleased we were able to finalize our license agreement with Neopharm, which is our first corporate partnership for CVac. I look forward to a long and productive relationship with our partners at Neopharm. It has gained a reputation for its professionalism and performance in marketing drugs manufactured by leading global companies, including various cancer treatments.”