NEW YORK, April 17, 2012 /PRNewswire/ -- BNY Mellon,
the global leader in investment management and investment services,
has been selected by Prima BioMed Limited as depositary bank for
its American depositary receipt (ADR) program. Each Prima
BioMed ADR represents 30 ordinary shares and trades on NASDAQ under
the symbol "PBMD." Prima BioMed's ordinary shares trade on
the Australian Stock Exchange under the symbol "PRR."
Prima BioMed is a Sydney-based
biotechnology company focused on technologies in the cancer
immunotherapy field. Prima's lead program is the CVac™
ovarian cancer therapy treatment, which is currently undergoing
global clinical trials.
"We believe trading alongside our peers in the U.S. will
significantly impact our valuation and liquidity," said
Martin Rogers, chief executive
officer of Prima BioMed. "Prima's listing on NASDAQ comes at
a strategic point in the development timeline for CVac, and it will
offer U.S. investors an opportunity to share in the company's
planned future growth."
"Prima BioMed is the first Australian company to list an ADR on
NASDAQ in seven years," said Michael Cole-Fontayn, CEO of BNY
Mellon's Depositary Receipts business. "Biotechnology is a
highly competitive and rapidly evolving industry. By
launching its ADR program, Prima BioMed will have access to a much
larger pool of investors who specialize in this sector."
BNY Mellon acts as depositary for more than 2,500 American and
global depositary receipt programs, acting in partnership with
leading companies from 65 countries. BNY Mellon is committed
to helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on
helping clients manage and service their financial assets,
operating in 36 countries and serving more than 100 markets.
BNY Mellon is a leading provider of financial services for
institutions, corporations and high-net-worth individuals, offering
superior investment management and investment services through a
worldwide client-focused team. It has $25.8 trillion in assets under custody and
administration and $1.26 trillion in
assets under management, services $11.8
trillion in outstanding debt and processes global payments
averaging $1.5 trillion per
day. BNY Mellon is the corporate brand of The Bank of New
York Mellon Corporation (NYSE: BK). Learn more at
www.bnymellon.com or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee.
SOURCE BNY Mellon