CEL-SCI in deal to market Multikine in Argentina and Venezuela

US drug developer CEL-SCI Corp (NYSE AMEX: CVM) has entered into an exclusive sales, marketing and distribution agreement with IDC-GP Pharm to market and distribute the company’s investigational cancer therapy, Multikine (leukocyte interleukin, injection) in Argentina and Venezuela.

IDC-GP Pharm is a joint venture between two groups of experienced pharmaceutical entrepreneurs with expertise in the registration and commercialization of pharmaceutical products in South America, among other regions. One of these two groups represents former employees of a large pharmaceutical company, while the other group is GP Pharm, headquartered in Barcelona, Spain, with operations in each major country in Latin America either directly or through local partners. CEL-SCI already has existing licensing agreements for Multikine (Leukocyte Interleukin, Injection) with Teva Pharmaceuticals Industries, Orient Europharma and Byron Pharmaceuticals.

Under the accord, IDC-GP Pharm will be responsible for receiving regulatory approval to use Multikine in the designated territories. Once Multikine has been approved in any of the two countries, CEL-SCI will be responsible for manufacturing the product, while IDC-GP Pharm will be responsible for sales. Revenues will be split 50/50 between CEL-SCI and IDC-GP Pharm after payment to CEL-SCI for the manufacturing costs of Multikine (Leukocyte Interleukin, Injection).