CEL-SCI is developing two platforms: Multikine and LEAPS. Multikine has completed a Phase 3 trial for head and neck cancer while LEAPS is conducting preclinical studies for RA, Pandemic Flu and breast cancer. In June 2021, CEL-SCI reported selected data from its IT-MATTERS trial demonstrating a benefit in the low PD-L1, non-chemotherapy population. CEL-SCI plans to submit applications in the US, EU, UK and Canada. Multikine is a biologic that contains human blood-derived cytokines that are thought to enhance the body's natural defenses against cancer. For the lead indication, SCCHN, it is used prior to and in conjunction with SoC, which includes surgery, radiation and chemotherapy. LEAPS is a peptide epitope delivery technology that can direct immune response. It is appropriate for diseases where antigenic epitope sequences have been identified. Our valuation assumes provisional approvals around the globe over the next several years for Multikine. We anticipate a partnership or buyout of the company by a large competitor that will begin and carry through with the commercialization process.
