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DETROIT, Sept. 17, 2024 /PRNewswire/ -- SciTech Development, Inc., a clinical-stage biotechnology company focused on innovative cancer therapeutics, is pleased to announce that the National Cancer Institute (NCI), part of the National Institutes of Health, has provided the company with an additional supply of fenretinide, a key pharmaceutical ingredient in the company's ST-001 investigational drug product and drug pipeline. The NCI's provision of fenretinide will enable SciTech to treat over 300 patients, complete both Phase 1a and 1b of its ongoing clinical trials at six locations and expand its clinical studies. This supply will help SciTech achieve key Phase 1 outcomes, such as determining optimal drug dosing and assessing the safety and tolerability of ST-001 in patients with relapsed or refractory T-cell non-Hodgkin lymphoma. Additionally, it will reduce development costs and accelerate ST-001's development timeline. More details on the trial and locations can be found here: . "We are honored to receive this additional fenretinide supply from the National Cancer Institute" said Earle Holsapple, CEO of SciTech Development. "The continued support of NCI underscores the potential of ST-001 in a broad range of cancers, including initially treating T-cell lymphoma patients. This contribution allows us to continue to advance our clinical programs without delay, and complete both Phase 1a and 1b of our trial, bringing us closer to offering a new therapeutic option for patients battling difficult-to-treat cancers." ST-001 is a patented, aqueous suspension of nanoparticles that contain fenretinide within specially formulated phospholipid bilayers, designed to enhance the drug's bioavailability, delivery, and potential efficacy for cancer treatment. Fenretinide has been extensively studied, offering unique advantages such as multiple anti-cancer mechanisms of action, favorable safety profile, and its broad applicability in other cancers. SciTech Development is dedicated to bringing innovative therapies to patients in need and is grateful for NCI's continued support. The company looks forward to sharing future updates as the clinical trials progress. For more information about SciTech Development and its clinical programs, please visit . CONTACT: David Schaffer, Investor Relations [email protected] About SciTech Development, Inc. SciTech Development, Inc. is a clinical-stage biotechnology company dedicated to the development of novel therapies for the treatment of cancer. SciTech is focused on advancing its clinical programs to bring innovative and effective cancer treatments to patients worldwide. This press release may contain forward-looking statements that are subject to risks and uncertainties. These statements are based on current expectations and assumptions and are not guarantees of future performance. SOURCE SciTech Development WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

SciTech accelerates its mission to bring ST-001 to cancer patients. GROSSE POINTE FARMS, Mich., June 4, 2024 /PRNewswire/ -- SciTech Development, a clinical-stage, specialty oncology pharmaceutical company, today announced it has closed an additional $3.2 million in funding to continue the active enrollment and dosing of patients in its ongoing clinical trial for T-cell non-Hodgkin lymphoma (T-NHL). This new funding brings SciTech's total raised to over $12 million. SciTech's financing was led by Storm Lake Capital and Pointe Angels, alongside new and existing accredited investors. Proceeds from the financing will be used to advance the company's Phase 1b clinical trials of ST-001 for T-NHL and subsequent clinical trials for small cell lung cancer. "On behalf of Storm Lake Capital, we are thrilled with the initial clinical progress made by SciTech Development and pleased to further support the company through additional investment in its latest convertible note round." said Todd Carlson, Partner, Storm Lake Capital. "As early supporters, we have closely monitored SciTech's advancements, noting its adept handling of challenges and disciplined resource management. We value the management team's integrity and look forward to their continued success." SciTech's T-NHL trial began with the first patient dosed in late 2023 and is being conducted at six (6) prestigious cancer institutions located across the United States in PA, NY, TX, MI, and CA, with additional sites being added. Patient enrollment is now open. Trial information, including criteria and site locations, can be found at ClinicalTrials.gov with the identifier NCT04234048. SciTech anticipates starting a second Phase 1b small cell lung cancer (SCLC) trial to run concurrently with the T-cell lymphoma trial. "SciTech has achieved yet another milestone of having oversubscribed its second Convertible Note Round (CNR) of financing. This is a perfect reflection of the progress that has been made by our dedicated team. Our multicenter clinical trial is to reconfirm the safety and efficacy of the active drug, fenretinide, utilizing SciTech's novel nanoparticle delivery platform." said Earle Holsapple, CEO of SciTech. "We have opened a third CNR to continue advancing the Phase 1b studies for T-NHL and small cell lung cancer. In parallel, the company will launch a Series A capital raise to fund the completion of both trials and file for commercial approval with the FDA. We are confident that the drug's potential will soon be realized." ST-001 is SciTech's patented lead drug product, formulated with the active drug fenretinide (a synthetic retinoid derivative) plus specific phospholipids in a nanoparticalized delivery platform (SDP). ST-001 has achieved a breakthrough in solving the bioavailability issues of fenretinide without system-related toxicities, which allows the drug to reach and kill cancer cells. The FDA has granted ST-001 an Orphan Drug Designation, allowing 7 years of market exclusivity once approved. T-cell lymphoma, a rare disease, is being utilized as the initial gateway indication for ST-001 as the company plans to establish a foothold in other cancer indications. Previous studies with fenretinide have shown promise in at least 15+ other types of cancers, such as lung, breast, ovarian, cervical, pancreatic, leukemia, colo-rectal, head & neck, and brain cancers. These additional indications, plus the potential to add ST-001 as combination therapy, may add significant value to address the unmet clinical needs in oncology. About SciTech Development SciTech Development is a clinical-stage, specialty oncology pharmaceutical company that is revolutionizing how safe and promising yet challenged drugs can be delivered to kill cancer. With innovative science and advanced nanotechnology, SciTech has developed ST-001 nanoFenretinide, a patented formulation that is currently in clinical trials for T-cell lymphomas (a form of non-Hodgkin lymphoma). ST-001 has been granted Orphan Drug Designation by the FDA, which allows 7 years of market exclusivity once approved. In addition, SciTech's nanoparticle drug delivery platform (SDP) maximizes the bioavailability of water-insoluble therapeutics and can potentially develop new drugs or improve other similarly challenged drugs. To learn more about SciTech, the science, and the team, please visit . Contact: SciTech Development: Investor Relations David Schaffer [email protected] Safe Harbor and Forward-Looking Statement: This document contains certain forward-looking statements that involve risks and uncertainties. Such forward-looking statements include statements regarding attempts to identify new products, services, or strategic opportunities, which may include a strategic transaction, plans regarding partnering activities, service pricing, or financial forecasts. Such statements are only predictions, and the Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include the risk that the Company may not be able to identify acceptable strategic opportunities or conclude any identified strategic transaction, the risk that products or services that appeared promising in early use do not demonstrate the same utility in larger-scale uses or trials, the risks associated with the Company's reliance on outside financing to meet its capital requirements, and the risks associated with the Company's reliance on forward-looking contracts. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underly the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include but are not limited to, the effect of government regulation, political, environmental, competitive, and/or other material risks. 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