CEL-SCI expands licensing agreement with Teva for Multikine cancer drug

Jul 20 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.

Source: CEL-SCI Corporation