CEL-SCI Corp (CVM) Founder de Clara Resigns

September 6, 2016 8:33 AM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

CEL-SCI Corporation (NYSE: CVM) announced that its founder, President and Chairman of the Board, Maximilian de Clara has resigned for personal health reasons, effective immediately. The 87 year-old visionary funded the original research of what has become CEL-SCI’s investigational drug Multikine* at the Max Planck Institute in Germany. From this he started the Company and now the Multikine Phase 3 study is being run in 24 countries with multiple respected partners. We thank him for his dedication and service to the Company, and wish him the best of health.

"Mr. de Clara believed in the concept of immunotherapy for cancer patients when very few did. He believed that the immune system holds the key to the treatment of many diseases. He also believed that the immune system should be activated before radiation and chemotherapy when it is thought to be strongest. Without Mr. de Clara’s determination backed by his personal funds CEL-SCI would not exist today.” said CEL-SCI CEO Geert Kersten.

Mr. Maximilian de Clara said: “It is with sadness that I acknowledge that I can no longer handle the operational obligations of the Company I have built, financed and nurtured for the last thirty three years. While I will no longer actively participate in the daily operation of CEL-SCI, I have the utmost confidence in the management team in place and in the continued success of Multikine’s clinical progress.”

CEL-SCI does not plan to fill the position of President at this time.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Management Changes, Management Comments

Add Your Comment