Cel-Sci's partner in Isreal for Multikine, Teva Pharmaceutical Industries, kicked off its portion of the global Phase III trial last month, and this week the two companies announced that the existing agreement to market and distribute Multikine in Israel and Turkey would be expanded to also include Serbia and Croatia.

Teva is currently footing the bill for its portion of the Multikine head and neck cancer trial in Israel.

Cel-Sci has another major partner, Orient Europharma, who is moving the product forward in Taiwan.

“We are pleased to expand our relationship with Teva. Strengthening this relationship will help in maximizing Multikine’s potential in developing markets while retaining rights to market Multikine in North America and most of Europe,” noted Geert Kersten, Chief Executive Officer of CEL-SCI, in a press release issued on Tuesday.

Teva and Cel-Sci will share revenue generated from any sales in the former Yugoslav states, and Cel-Sci will receive milestone payments upon approval.

The Multikine Phase III trial is advertised as the largest ever for head and neck cancer. Over the course of this year, Cel-Sci has announced trial commencements from multiple sites around the world, including in the United States, and investors will be watching for indications that the latest trial will bring a repeat of the positives from the Phase II trial.

CVM trading volume was more than five times higher than average after the Teva news was announced, although the share price remained steady at right around fifty cents.

Multikine could be a potential blockbuster in the making, and it's one I've long followed for the risk/reward in the cancer immunotherapy sector.

We're still early in Phase III, but still worth a speculative look. Ever since Dendreon (DNDN) took off on positive Provenge results, cancer immunotherapy plays have been in the spotlight.

Disclosure: Long CVM.

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