BioProperties has committed $15 million to CEL-SCI to build a manufacturing plant for its cancer drug Multikine. The therapy is approved for a Phase III trial for head and neck cancer. The facility will cost up to $14 million, which CEL-SCI will pay for through a long-term lease.
"We will be able to produce our drug Multikine in our own CGMP facility for Phase III trials as well as for sale once marketing approval is granted," says Geert Kersten, CEO of CEL-SCI. "An additional benefit of having this facility," Kersten adds, "is that during the Phase III study, it may also be used for contract manufacturing work with other biotech companies and/or the U.S. government since it will contain a clean cold-fill suite."
- see the release [1] on the deal
Links:
[1] http://www.fiercebiotech.com/node/5334