NetworkNewsBreaks – Scinai Immunotherapeutics Lt
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Posted On: 04/08/2024 4:26:52 PM
NetworkNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI), Scinai Bioservices Enter MSA with Ayana Pharma
Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on the development of inflammation and immunology (“I&I”) biological products, through its contract development and manufacturing organization (“CDMO”) business unit, Scinai Bioservices, has signed a five-year Master Service Agreement (“MSA”) with Ayana Pharma Ltd. As outlined by the MSA, Scinai will provide drug-development and cGMP manufacturing services to Ayana; the agreement is forecast to bring in at least $1.8 million in revenues for Scinai over the next five years. Ayana officials noted that the company had done an extensive search looking for a CDMO and was “attracted” to Scinai’s experience in biopharmaceutical drug development and manufacturing for clinical trials as well as its customer responsiveness and track record for meeting stringent international regulatory requirements. Company officials also appreciated the pristine condition of Scinai’s modern and highly equipped laboratories and clean rooms. “This five-year contract validates our strategic decision to create two business units, one focused on providing CDMO services and the other on drug development of an innovative pipeline of biologic therapeutic products under license from the Max Planck Society and the University Medical Center Gottingen, Germany,” said Scinai Immunotherapeutics CEO Amir Reichman in the press release. “This important CDMO contract with Ayana joins additional contracts already signed with other clients by our CDMO unit, all of which are generating revenues, offsetting fixed costs and allowing for rapid growth of our business.”
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://nnw.fm/SCNI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on the development of inflammation and immunology (“I&I”) biological products, through its contract development and manufacturing organization (“CDMO”) business unit, Scinai Bioservices, has signed a five-year Master Service Agreement (“MSA”) with Ayana Pharma Ltd. As outlined by the MSA, Scinai will provide drug-development and cGMP manufacturing services to Ayana; the agreement is forecast to bring in at least $1.8 million in revenues for Scinai over the next five years. Ayana officials noted that the company had done an extensive search looking for a CDMO and was “attracted” to Scinai’s experience in biopharmaceutical drug development and manufacturing for clinical trials as well as its customer responsiveness and track record for meeting stringent international regulatory requirements. Company officials also appreciated the pristine condition of Scinai’s modern and highly equipped laboratories and clean rooms. “This five-year contract validates our strategic decision to create two business units, one focused on providing CDMO services and the other on drug development of an innovative pipeline of biologic therapeutic products under license from the Max Planck Society and the University Medical Center Gottingen, Germany,” said Scinai Immunotherapeutics CEO Amir Reichman in the press release. “This important CDMO contract with Ayana joins additional contracts already signed with other clients by our CDMO unit, all of which are generating revenues, offsetting fixed costs and allowing for rapid growth of our business.”
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://nnw.fm/SCNI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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