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Henderson Morley PLC (HML)

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Thursday 05 November, 2009

Henderson Morley PLC

Further Grant Application

RNS Number : 9866B
Henderson Morley PLC
05 November 2009

05 November 2009


("Henderson Morley" or the "Company")



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 periodIf 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 BrisbaneQueensland 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.





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

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