Ergomed raises its co-development contribution to $12 million for CEL-SCI's Phase III head and neck cancer drug

5 October 2015

Provider of development services to drugmakers, Ergomed (AIM: ERGO) said it will pay $12 million for the Phase III trial for drug to treat to head and neck cancer following an expanded agreement with CEL-SCI Corp (NYSE MKT: CVM).

UK-based Ergomed has increased its contribution from the initial $10 million, the companies said in a joint statement. Under the new agreement, Ergomed will pay up to $12 million towards the cost of performing clinical services for the Phase III study in exchange for milestone and royalty payments

The two companies are undertaking the Phase III trial of CEL-SCI’s trial-stage immunotherapy Multikine (leukocyte interleukin, Injection).

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