SCNI - Scinai Immunotherapeutics' CDMO Unit Selected by Ayana Pharma to Provide Drug Development and cGMP Manufacturing Services | Benzinga
JERUSALEM, April 8, 2024 /PRNewswire/ -- Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) today announced that Ayana Pharma Ltd. signed a five-year Master Service Agreement (MSA) with the Company's CDMO business unit, Scinai Bioservices.
Under the MSA, Scinai will provide drug development and cGMP manufacturing services, including aseptic filling and quality assurance, to Ayana, including encapsulating drug substances of various partners of Ayana into Ayana's proprietary liposomal drug delivery system.
Ayana COO Yanir Aldouby, commented, "After an extensive search, we are pleased to have selected Scinai Bioservices as our CDMO for our future projects. We were particularly attracted to the team's experience in bio-pharmaceutical drug development and manufacturing for clinical trials while meeting stringent international regulatory requirements. We also appreciated Scinai's personal customer responsiveness. These initial stages lay the groundwork for a collaborative and productive relationship going forward. As Scinai is also in the business of biological drug development, we believe they understand our needs as a small biopharma company. The pristine condition of Scinai's modern and highly equipped laboratories and clean rooms demonstrate the competence and attention to details that are imperative for a CDMO to successfully serve our future needs. We're confident that we're in good hands with Scinai."
Elad Mark, Scinai's COO, noted, "We are pleased to welcome Ayana as a client. Their innovative liposomal nano-pharmaceutical products were invented and developed by Prof. Yechezkel (Chezi) Barenholz, a renowned expert in the area of liposomal drug delivery systems. As a biologics CDMO with end-to-end capabilities, we provide personal and professional services to our clients. We are proud that Prof. Barenholz and Ayana recognized the capabilities of Scinai Bioservices as the best fit to support their liposomal product portfolio drug development needs."
The agreement is anticipated to provide Scinai with at least $1.8 million in revenues over the next five years.
Amir Reichman, Scinai's CEO, added "This five-year contract ...