VIENNA, Va., APRIL 18 /PRNewswire-FirstCall/ -- CEL-SCI Corporation
(Amex: CVM), a developer of immune-system based treatments for cancer and
infectious diseases, announces that it has raised $15 million in new equity
financing. The shares were sold at $0.75, a small premium over the closing
price of the last two weeks.
The financing is accompanied by 10 million warrants at $0.75 and 10
million warrants at $2.00. The Company has agreed to register the shares
involved in this financing.
Geert Kersten, Chief Executive Officer of CEL-SCI said, "These funds
will allow us to move forward as planned to start our Phase III clinical
trial in first line advanced primary head and neck cancer. This also allows
us to negotiate with potential partners from a position of strength."
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities.
CEL-SCI Corporation is developing new immune system based treatments
for cancer and infectious diseases. The Company has operations in Vienna,
Virginia and Baltimore, Maryland. The Company's lead product Multikine(R)
is cleared to enter a global Phase III clinical trial in advanced primary
head and neck cancer patients in the U.S. and Canada. CEL-SCI's other
products, which are currently in pre-clinical stage, have shown protection
against a number of diseases in animal tests and are being tested against
diseases associated with bio-defense and avian flu.
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, 2006. 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.
SOURCE CEL-SCI Corporation
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Related links:
http://www.cel-sci.com
CONTACT:
Gavin de Windt of CEL-SCI Corporation,
+1-703-506-9460
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