CEL-SCI Completes $5.85 Million Registered Direct Offering

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Tue Jun 30, 2009 12:28pm EDT

VIENNA, Va., June 30 /PRNewswire-FirstCall/ -- CEL-SCI Corporation (NYSE Amex:
CVM), a late stage cancer immunotherapy company, today announced that it has
completed a registered direct offering under which it raised gross proceeds of
$5.85 million before deducting placement agent fees and estimated offering
expenses. The size of the transaction, which was announced on June 24, 2009
when the Company entered into definitive agreements, was increased from $5
million. The Company sold 14,613,102 million units, with each unit consisting
of one of the Company's common shares and 0.67 warrants to purchase one share
of common stock. The investors purchased the units at a purchase price of
$0.40 per unit. The warrants, which represent the right to acquire an
aggregate of up to 9,790,777 million common shares, are exercisable at any
time on or after 181 days from the Closing Date and prior to the 5-year
anniversary at an exercise price of $0.50 per share. Chardan Capital Markets,
LLC acted as placement agent for the offering.

The securities described above are being offered by CEL-SCI Corporation
pursuant to a registration statement previously filed and declared effective
by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of such securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. The securities may be offered only by means of a prospectus.
Copies of the final prospectus supplement and accompanying base prospectus
relating to this offering may be obtained at the Securities and Exchange
Commission's website at www.sec.gov.

CEL-SCI Corporation is developing products that empower immune defenses. Its
lead product is Multikine(R) which is being readied for a global Phase III
trial in advanced primary head and neck cancer. CEL-SCI is also developing a
vaccine to prevent and treat swine and other influenzas using its L.E.A.P.S.
technology platform and expects to soon finish the validation of its
state-of-the-art facility in Maryland which it expects to utilize to launch
aseptic filling for stem cell produced therapies and other biological
products. The Company has operations in Vienna, Virginia, and Baltimore,
Maryland.

For more information, please visit www.cel-sci.com.

Certain statements contained herein relating to the anticipated closing of the
offering or product development, or that otherwise relate to future periods,
are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements are based on assumptions that may not prove accurate. Actual
results could differ materially from those anticipated due to certain risks
inherent in the biotechnology industry and for companies engaged in the
development of new products in a regulated market. These risks, including
those related to whether the offering will close when anticipated or at all,
the results of discovery research and preclinical testing; the timing or
results of pending and future clinical trials (including the design and
progress of clinical trials; safety and efficacy of the products being tested;
action, inaction or delay by the FDA, European or other regulators or their
advisory bodies; and analysis or interpretation by, or submission to, these
entities or others of scientific data); uncertainties regarding the status of
biotechnology patents; uncertainties as to the cost of protecting intellectual
property; changes in the status of the existing collaborative and licensing
relationships; the ability of collaborators, licensees and other third parties
to meet their obligations; market demand for products; scale up and marketing
capabilities; competition; international operations; share price volatility;
and CEL-SCI's financing needs and opportunities are described in more detail
in CEL-SCI's most recent annual report on Form 10-K/A and in other SEC
filings. Consider such risks carefully in considering CEL-SCI's prospects.

SOURCE  CEL-SCI Corporation

Gavin de Windt of CEL-SCI Corporation, +1-703-506-9460
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