Prima Secures US$37.4M Investment Agreement With US Institutional Investor Bergen - Seite 2

"Bergen Asset Management's Chief Investment Officer, Mr. Eugene Tablis and his team are very familiar with Prima. As a co-founder of SpringTree Global Investors, Mr. Tablis co-managed SpringTree Special Opportunities Fund LP's ("SpringTree") investment in Prima from 2009 to 2011. During that time, in addition to funding Prima by way of a structured equity deal, SpringTree also participated in conventional institutional placements by Prima, and saw Prima's share price increase from 7.1 cents to 29.5 cents during that 22 month period," he said.

Mr. Eugene Tablis, Bergen Asset Management's Chief Investment Officer commented: "We look forward to working with Prima as it executes on its corporate and scientific plans. Our best investments have been made in companies in transition. We are delighted to be able to provide the company with funding that can enable it to complete its clinical trials and to expand."

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

About Bergen Asset Management
Based in New York, Bergen Asset Management is an institutional investor with a particular focus on direct investments in small-cap companies around the world, and a track record of success in the Australian biotech market.

APPENDIX

Key Aspects of the Agreement

1. Certainty of access to funding. The Agreement provides the Company with certainty of access to funding in a tight capital markets environment over the next 12 months. The investment will be made as follows:

1. US$700,000 to US$1,500,000 in monthly share purchases for up to 24 months (US$700,000 per month, which can be increased to up to US$1,500,000 by mutual consent); and
2. an additional US$2,500,000 invested on execution of the Agreement by way of a 36-month interest-free unsecured convertible security (the "Convertible"); for a total of up to US$37,400,000 (the "Total").

The monthly equity tranches may be reduced to an amount of no less than US$360,000 under certain circumstances.