CEL-SCI Announces the Closing of Its $5 Million Registered Direct Offering
August 29 2016 - 9:00AM
Business Wire
CEL-SCI Corporation (NYSE MKT: CVM) announced that it has
closed its previously announced registered direct offering with
institutional investors. The Company has received gross proceeds of
$5 million.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC,
acted as the exclusive placement agent in connection with the
offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About CEL-SCI Corporation
CEL-SCI’s work is focused on finding the best way to activate
the immune system to fight cancer and infectious diseases. Its lead
investigational therapy, Multikine* (Leukocyte Interleukin,
Injection), is currently being studied in a pivotal Phase 3
clinical trial as a potential neoadjuvant treatment for patients
with squamous cell carcinoma of the head and neck. If the study
endpoint, which is improvement in overall survival of the subjects
treated with the Multikine treatment regimen plus the current
standard of care (SOC) as compared to subjects treated with the
current SOC only is satisfied, the study results will be used to
support applications that the Company plans to submit to regulatory
agencies in order to seek commercial marketing approvals for
Multikine in major markets around the world.
Additional clinical indications for Multikine that are being
investigated include the treatment of cervical dysplasia in HIV/HPV
co-infected women, and the treatment of peri-anal warts in HIV/HPV
co-infected men and women. A Phase 1 trial of the former indication
has been completed at the University of Maryland. The latter
indication is now in a Phase 1 trial in conjunction with the U.S.
Naval Medical Center, San Diego, under a CRADA and UCSF. CEL-SCI
has issued patents on Multikine from the US, Europe, China and
Japan.
CEL-SCI is also developing its pre-clinical L.E.A.P.S. (Ligand
Epitope Antigen Presentation System) technology as a potential
vaccine for the treatment of rheumatoid arthritis.
The Company has operations in Vienna, Virginia, and in/near
Baltimore, Maryland.
* Multikine (Leukocyte Interleukin, Injection) is the trademark
that CEL-SCI has registered for this investigational therapy, and
this proprietary name is subject to FDA review in connection with
the Company's future anticipated regulatory submission for
approval. Multikine has not been licensed or approved for sale,
barter or exchange by the FDA or any other regulatory agency.
Similarly, its safety or efficacy have not been established for any
use. Moreover, no definitive conclusions can be drawn from the
early-phase, clinical-trials data involving the investigational
therapy Multikine. Further research is required, and early-phase
clinical trial results must be confirmed in the Phase 3 clinical
trial of this investigational therapy that is currently in
progress.
Safe Harbor
To the extent any statements made in this press release deal
with information that is not historical, these are forward-looking
statements under the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about the terms, expected proceeds and closing of the offering.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Uncertainties and risks may
cause CEL-SCI’s actual results to be materially different than
those expressed in or implied by CEL-SCI’s forward-looking
statements. For CEL-SCI, this includes that closing conditions may
not be met. All forward-looking statements in this news release
speak only as of the date of this news release. CEL-SCI undertakes
no obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise,
unless required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160829005351/en/
CEL-SCI CorporationCOMPANY CONTACT:Gavin de Windt,
703-506-9460
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