CEL-SCI Corporation and Teva Pharmaceuticals Expand Licensing Agreement
CEL-SCI to license Multikine® to Teva for Croatia and Serbia
VIENNA, Va.--(BUSINESS WIRE)--Jul 19, 2011 - CEL-SCI Corporation (NYSE AMEX: CVM) announced today that it has expanded the licensing agreement with Teva Pharmaceutical Industries Ltd. for its cancer drug Multikine. Under the agreement, Teva's exclusive license to market and distribute Multikine, the Company's investigational Phase III drug for the treatment of head and neck cancer, in Israel and Turkey will be extended to include Croatia and Serbia. Teva is currently funding a part of the global Phase III clinical study at three clinical sites in Israel. Teva will be responsible for the costs of registering and selling the product in Serbia and Croatia and will pay CEL-SCI milestone payments upon approval of Multikine. The parties will share revenue generated from all four countries.
“We are pleased to expand our relationship with Teva. Strengthening this relationship will help in maximizing Multikine's potential in developing markets while retaining rights to market Multikine in North America and most of Europe,” said Geert Kersten, Chief Executive Officer of CEL-SCI.
CEL-SCI's Phase III clinical trial is an open-label, randomized, controlled, multi-center study designed to determine if Multikine administered prior to current standard of care (Surgery plus Radiotherapy or Surgery plus Concurrent Radiochemotherapy) used for treatment naive subjects with Advanced Primary Squamous Cell Carcinoma of the Oral Cavity/Soft Palate (Head and Neck cancer) will result in an increased overall rate of survival versus the subjects treated with standard of care only. It will also be the first trial in which immunotherapy will be administered before any other traditional means of care are attempted. A detailed description of the study can be found at http://www.clinicaltrials.gov/ct2/show/NCT01265849?term=multikine&rank=1.
About CEL-SCI Corporation
CEL-SCI Corporation is developing products that empower immune defenses. Its lead product is Multikine. CEL-SCI is also developing an immunotherapy (LEAPS-H1N1-DC) to treat H1N1 hospitalized patients and a vaccine (CEL-2000) for Rheumatoid Arthritis using its LEAPS technology platform. The LEAPS-H1N1-DC treatment involves non-changing regions of H1N1 Pandemic Flu, Avian Flu (H5N1), and the Spanish Flu as CEL-SCI scientists are very concerned about the creation of a new more virulent hybrid virus through the combination of H1N1 and Avian Flu, or maybe Spanish Flu. The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland.
For more information, please visit www.cel-sci.com.
When used in this report, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation's SEC filings, including but not limited to its report on Form 10-K for the year ended September 30, 2010. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact: CEL-SCI Corporation
Gavin de Windt, 703-506-9460
Posted: July 2011