CEL-SCI signs licensing agreement with Byron Biopharma

US-based pharmaceutical company CEL-SCI has entered into an exclusive licensing agreement with Byron Biopharma under which CEL-SCI has granted Byron an exclusive license to market and distribute the company’s cancer drug Multikine in the Republic of South Africa.

CEL-SCI already has existing licensing agreements for Multikine with Teva Pharmaceuticals and Orient Europharma. CEL-SCI is developing Multikine for approval as a first line indication in head and neck cancer.

Pursuant to the agreement, Byron will purchase $750,000 worth of stock from CEL-SCI and will make a payment of $125,000 in 12 months. Byron will also be responsible for registering the product in the territory. Once Multikine has been approved, CEL-SCI will be responsible for manufacturing the product, while Byron will be responsible for sales in the territory. Revenues will be split 50/50 between CEL-SCI and Byron.

Geert Kersten, CEO of CEL-SCI, said: This agreement is consistent with our strategy to license Multikine in the emerging markets to share the expenses of bringing Multikine to market. We are working on additional agreements around the world.