5th Nov 2009 07:00
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.
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Enquires
HENDERSON MORLEY PLC 0121 442 4600 Andrew Knight, Chairman
BISHOPSGATECOMMUNICATIONS LTD 0207 562 3350Maxine Barnes Gemma O'Hara
BREWIN DOLPHIN INVESTMENT BANKING 0113 241 0126Neil Baldwin
RIVINGTON STREET CORPORATE FINANCE 0207 562 3380Monisha Varadan
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