Dow Jones 8,486.57 -92.52  5:00 pm EST, Mon., Nov 18, 2002  NASDAQ 1,393.69 -17.45  For info, visit access.smallcapnetwork.com .  S & P 500   900.36 -9.47  To be removed, please click here .  Russell 2000   382.58 -3.34  VOLUME 02: ISSUE 79 CEL-SCI Enters Into Collaboration With Proxima Concepts CEL-SCI (CVM), our November profile has entered into an agreement with Proxima Concepts, a firm out of London, to develop oral formulation of CEL-SCI's new compound CEL-1000. This latest development marks the third partner for CEL-SCI's CEL-1000 compound.  The U.S. Naval Medical Research Center (NMRC) is already partnered with CEL-SCI for protective and therapeutic efficacy in different strains of mice and against different species of malaria. The Cincinnati Children's Hospital Medical Center is currently testing the ability of CEL-1000 for its ability to prevent and/or treat infection with herpes in the guinea pig vaginal challenge model. The CEL-1000 compound was not something that we focused much attention on in our profile released November 8th.  The company's lead drug, Multikine, which is in Phase II studies with Phase III studies in the near future was given much more attention.  We didn't realize just how big CEL-1000 could potentially be until additional due diligence showed that this technology could be more exciting than Multikine. It is rare to find a biotech company with a market capitalization $7.6 million dollars that has drugs in Phase I and Phase II of the FDA approval process. In our initial profile we called CEL-SCI the best "value play" in the biotech sector. Now with the further development of the CEL-1000 pipeline our opinion has only been strengthened. We profiled CEL-SCI at an initial price of $0.21 per share on November 8th.  The stock promptly moved to an intraday high of $0.29 per share on November 11th thus missing our short term target of $0.30 per share for the stock. Based on today's development we are raising our short term target to $0.35 per share which would represent a gain of 59% from today's closing price of $0.22 per share.   The following is today's announcement from CEL-SCI:   November 18, 2002 16:05 CEL-SCI Enters Agreement With Proxima Concepts For Development of Oral Forms of CEL-1000 Compound CEL-1000 Has Shown Protection in Animals Against Malaria, Herpes and Cancer VIENNA, Va., Nov. 18 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION (Amex: CVM) announces that it has entered into an agreement with Proxima Concepts, Ltd. of London, UK, to develop an oral formulation of CEL-SCI's new compound CEL-1000. CEL-1000 has shown high levels of protection against herpes simplex, malaria and cancer in animal testing. CEL-1000 is a modified version of a human sequence known to bind to both human and mouse immune cells and as such, the results obtained should have direct applicability in humans. The new studies with the oral compound will initially evaluate the ability of CEL-1000 to prevent and/or treat infection with herpes, and perhaps also malaria, in animal models. Prior tests with all three diseases involved the delivery of CEL-1000 by injection. For malaria, CEL-1000 is being developed under a Cooperative Research and Development Agreement (CRADA) with the U.S. Naval Medical Research Center (NMRC) for protective and therapeutic efficacy in different strains of mice and against different species of malaria. Previous malaria tests by the NMRC showed 100% protection against malaria (p. yoelli) infection in the mouse model. Protection was defined as a total lack of malaria parasites in the blood of the animals at several time points after challenge, a very stringent test. For herpes, CEL-1000 is currently being tested at the Cincinnati Children's Hospital Medical Center for its ability to prevent and/or treat infection with herpes in the guinea pig vaginal challenge model. Prior tests at the Northeastern Ohio Universities College of Medicine showed protection from disease symptoms and death after immunization with CEL-1000 in a mouse skin model. This model closely resembles the normal human disease with herpes simplex virus with regards to disease characteristics and neuronal spread. Dr. Daniel H. Zimmerman, Senior Vice President Research and Development, Cellular Immunology at CEL-SCI said, "We are very excited by the results seen so far. If the animal data can be replicated in humans, the market opportunities would be huge. An oral form of the drug would make the product much easier to supply and significantly increase the size of the market." Proxima Concepts' Vaxcine technology employs an oil-based encapsulation vehicle which does not break known in the intestine, and which can carry materials directly to the immune cells of the gut. Antigens administered orally in this vehicle can stimulate immunity both in the mucosa and in the bloodstream, and have already demonstrated efficacy in other infectious disease models. CEL-SCI Corporation is developing new immune system based treatments for cancer and infectious diseases. Its lead product, Multikine(TM), is completing its last Phase II clinical study against head & neck cancer and Phase I clinical studies for HIV-infected women with cervical dysplasia. The Company has operations in Vienna, Virginia and Baltimore, Maryland. When used in this report, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation's SEC filings, including but not limited to its report on Form 10- K for the year ended September 30, 2001. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Make Your Opinion Count - Click Here http://tbutton.prnewswire.com/prn/11690X72658823 SOURCE CEL-SCI Corporation  /CONTACT: Lisa Lindberg of The Investor Relations Group, +1-212-825-3210/ /Web site: http://www.cel-sci.com/ (CVM) D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. SmallCap Digest is not a registered investment advisor or broker-dealer. 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