Further Grant Application
November 05 2009 - 2:00AM
UK Regulatory
TIDMHML
RNS Number : 9866B
Henderson Morley PLC
05 November 2009
05 November 2009
HENDERSON MORLEY PLC
("Henderson Morley" or the "Company")
(AIM: HML)
FURTHER GRANT APPLICATION
The Board of Henderson Morley plc, the Aim quoted biotechnology company, is
pleased to announce that it has submitted a joint grant application to the
Queensland Government Research Industry Partnership Program (RIPP) in order to
aid the progress of its the Cytomegalovirus ("CMV") vaccine development
programme.
The grant, which has been written in conjunction with the Queensland Institute
of Medical Research (QIMR), has been submitted to the RIPP. The RIPP program
aims to facilitate the development of near to market research projects between
industry and research organisations. The key objective of the RIPP is to
facilitate the development of new or improved products processes and systems
that will achieve a commercial return or deliver a public good within four
years.
The grant application has been made as a collaboration between QIMR and
Henderson Morley, and funding is matched 1:1. Henderson Morley will contribute
in the form of staff and overhead costs, and will not incur any additional costs
over existing cash burn and the QIMR will make a similar contribution.
If successful, the total application will be valued at AUS$2.43 million (GBP
1.35 million) over a three year period. If the application is successful it is
anticipated that the Company will be notified by Spring 2010 and the project
will then begin mid 2010.
This grant application is supplementary to the Grant Application made to the NIH
in August 2009.
Commenting on the grant applications, Chairman of Henderson Morley, Andrew
Knight said: "This grant application presents another opportunity for the
Company to secure non dilutive funding, and we continue to explore all possible
avenues in order to gain such funding and add value for shareholders.
"We are very pleased to be collaborating with the world renowned team based at
QIMR on such an important public health project."
Professor Rajiv Khanna, Director of the Australian Centre for Vaccine
development, based in Brisbane, Queensland Commented: "I am pleased a grant
application has been made. I have previously been awarded a grant from
the Queensland Government so I am well aware of the importance of this type of
funding as well as the invaluable non-financial assistance associated with such
a grant.
"I am delighted to be working with Henderson Morley. The complementary aspects
of the Henderson Morley's PREPS and L-particles and the QIMR poly-epitope
antigen make this a particularly exciting vaccine project with which to be
involved.
-END-
Enquires
HENDERSON MORLEY PLC 0121 442
4600
Andrew Knight, Chairman
BISHOPSGATECOMMUNICATIONS LTD 0207 562
3350
Maxine Barnes
Gemma O'Hara
BREWIN DOLPHIN INVESTMENT BANKING 0113 241
0126
Neil Baldwin
RIVINGTON STREET CORPORATE FINANCE 0207 562
3380
Monisha Varadan
This information is provided by RNS
The company news service from the London Stock Exchange
END
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