CEL-SCI entered into an agreement with a biomedical real estate group under which it acquires long-term use of a dedicated manufacturing plant near Baltimore for its cancer drug Multikine. The financial value of this transaction to CEL-SCI is about $15 million.
BioRealty is responsible for its build-out pursuant to CEL-SCI's specifications. Once fully built, the facility will produce Multikine for its Phase III trials for head and neck cancer as well as other oncology indications, following marketing approval for sale. The company reports that this transaction allows it to preserve its cash as well as pursue the development of its cancer drug in the most prudent manner.