CEL-SCI Corporation (NYSEMKT: CVM)’s founder Maximilian de Clara has exited the scene as president and chairman of the company.
CEL-SCI Corporation (NYSEMKT: CVM) said that de Clara was leaving on personal health grounds. The outgoing chairman, who is now 87, said in a statement that he regrets that he can no longer discharge his operational duties as chairman and president of CEL-SCI.
The last 33 years have seen de Clara finance and work to nurture CEL-SCI.
Confidence in the management
While de Clara said he will no longer participate actively in the daily operations of the company he founded and financed, he expressed confidence in the management team he is leaving behind. He believes the team will continue developing CEL-SCI’s most advanced candidate Multikine through the remaining clinical stages to bring it to market.
Carrying on the founder’s vision
The management of CEL-SCI Corporation (NYSEMKT: CVM) appears determined to carry on with the vision of the founder de Clara. CEO Geert Kersten said in statement that were it not for the backing of de Clara’s personal funds and his determination to the concept of immunotherapy, CEL-SCI would not have existed.
Kersten added that de Clara believed that harnessing the power of the immune systems held the key to treatment of a wide range of diseases. In the treatment of cancer, de Clara believes that the immune systems needed to be activated before chemotherapy and radiation because that is when it is strongest.
CEL-SCI Corporation (NYSEMKT: CVM) has no immediate plans to fill the vacant position of president following the exit of de Clara.
Lead drug candidate – CEL-SCI Corporation (NYSEMKT: CVM)
CEL-SCI’s lead drug candidate Multikine is currently in Phase 3 study in 24 countries. A recent update from the company said that it had enrolled a total of 905 patients in the trial as of August 31. During the month of August alone, CEL-SCI said it enrolled 28 patients.
CEL-SCI Corporation (NYSEMKT: CVM)’s Multikine is being developed as a treatment for advanced head and neck cancer. The Phase 3 study is evaluating the efficacy of the candidate in combination with standard of care (SOC) vs. SOC only treatment.