Scinai Embarks on a Promising Acquisition of Pincell for Skin Therapies
Scinai Targets Innovative Skin Treatment through Pincell Acquisition
Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI), a biopharmaceutical company specializing in inflammation and immunology products, has exciting news regarding its latest strategic move. Scinai has signed an option agreement to acquire Pincell srl, a biotechnology company renowned for its groundbreaking work on a novel monoclonal antibody, PC111, designed to address severe dermatological conditions.
With this acquisition, Scinai aims to enhance its portfolio by integrating pioneering solutions that target high unmet medical needs in dermatology. This initiative is especially pertinent as PC111 is currently in development to treat conditions like Pemphigus, Stevens-Johnson Syndrome (SJS), and Toxic Epidermal Necrolysis (TEN).
Grant for Advancing Development
As part of this acquisition, Scinai has filed an application for a substantial grant seeking Euro 12 million, intended to drive the next phase of PC111's development. Collaborating closely with Pincell, the grant application was submitted by Scinai's Polish subsidiary, allowing for an organized approach to funding this promising venture. This initiative is being supported under the framework of the European Funds for a Modern Economy (FENG) program.
This innovative grant structure aims to provide non-dilutive funding for the project, a strategy that will limit the financial burden on Scinai while maintaining a focus on the development milestones essential for PC111's success.
About PC111
PC111 is a fully humanized monoclonal antibody that blocks the activation of apoptosis in skin cells, which plays a significant role in various skin blistering disorders. It offers a desirable non-immunosuppressive treatment option, differentiating it from other biological therapies often associated with severe side effects.
Pincell has conducted extensive research employing a proprietary FasL humanized mouse model to explore the role of the Fas/FasL pathway in skin diseases. The research indicates that PC111 effectively halts blister formation without the need for steroids, showcasing its potential as an innovative targeted therapy.
Understanding the Conditions: Pemphigus, SJS, and TEN
The dermatological conditions targeted by PC111—Pemphigus, SJS, and TEN—are severely debilitating, often requiring prolonged use of immunosuppressive medications, which come with significant risks. Pemphigus, an autoimmune disorder, can result in painful blisters and has a mortality rate ranging from 5-10%. Similarly, SJS, a rare reaction to medications, shares a similar mortality statistic. TEN, an advanced form of SJS, involves catastrophic skin peeling, resulting in a 30-40% mortality rate.
Overall, there is a critical need for more effective treatments to alleviate symptoms and improve the management of patients suffering from these grave conditions.
Statements from Leadership
Amir Reichman, CEO of Scinai, expressed enthusiasm about the acquisition, stating, "Opportunities like acquiring Pincell allow us to collaborate with outstanding professionals in the dermatology field, particularly those like Prof. Carlo Pincelli, who have extensive expertise in this area of research. We're eager to leverage their knowledge to advance PC111's development for treating these severe skin disorders."
Dr. Antonino Amato, Chairman of Pincell, echoed this sentiment, commenting on the aligned objectives of both companies. He highlighted that the partnership symbolizes a strong synergy in their aims, focusing on advancing PC111 while addressing the substantial medical need in dermatology.
Future Opportunities from the Agreement
The option agreement allows Scinai to proceed with acquiring Pincell shares based on meeting specified conditions, including obtaining necessary regulatory permissions. This deal lays the groundwork for Pincell’s shareholders to benefit from future milestone payments tied to the performance of PC111.
The strategic alignment between the existing management teams will further facilitate the transition of Pincell’s expertise into Scinai’s operational framework, optimizing drug development and market accessibility.
About Scinai Immunotherapeutics
Scinai Immunotherapeutics Ltd. focuses on pioneering biological products and contract development manufacturing (CDMO) services. The company is committed to addressing significant healthcare needs with innovative treatments targeted at inflammation and immunology.
About Pincell srl
Founded as an academic spin-off in Milan, Pincell is dedicated to developing novel therapies for rare dermatological diseases. Their innovative approach, including the development of PC111, places them at the forefront of biopharmaceutical innovation.
Frequently Asked Questions
What is the purpose of Scinai acquiring Pincell?
The acquisition aims to leverage Pincell's innovative PC111 monoclonal antibody to develop effective treatments for severe dermatological conditions.
What conditions does PC111 target?
PC111 is currently being developed for Pemphigus, Stevens-Johnson Syndrome (SJS), and Toxic Epidermal Necrolysis (TEN).
How much funding is Scinai seeking for development?
Scinai is seeking Euro 12 million in grant funding to support the next stage of PC111's development.
Does PC111 have any recognized designations?
Yes, PC111 has received Orphan Drug Designation in Pemphigus from the European Medicines Agency.
What are the future prospects for Pincell under Scinai?
Under Scinai, Pincell's expertise and resources will be integrated to expedite the development of PC111 and enhance collaboration in addressing severe skin disorders.
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