Scinai Immunotherapeutics Signs An Option Agreement To Acquire Rare Disease Company Pincell And Its Novel Antibody For Treating Severe Dermatological Conditions; No Financial Terms Of Transaction Disclosed; Files An Application For €12 Million Grant To Fund Next Stage Of Development

Author: Benzinga Newsdesk | March 27, 2025 09:27am

Scinai files an application for Euro 12 million grant to fund next stage of development

• Pincell's monoclonal antibody, PC111, is in development for treating Pemphigus, Steven Johnson's Syndrome (SJS) and Toxic Epidermal Necrolysis (TEN)
• PC111 has already received an Orphan Drug Designation in Pemphigus by the European Medicine's Agency
• An application will be filed with the FDA for Orphan Drug and Breakthrough Designation in Pemphigus, as well as in SJS/TEN
• Scinai sees potential for accelerated approval given the severity of these diseases, PC111's innovative, non-immunosuppressive mode of action and the lack of effective alternative treatments

JERUSALEM, March 27, 2025 /PRNewswire/ -- Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI), a biopharmaceutical company specializing in inflammation and immunology (I&I) biological products and in providing CDMO services through its Scinai Bioservices unit, today announced that it entered into a binding option agreement for the acquisition of the Italian biotech company Pincell srl.

In anticipation of the signing of the option agreement, the parties have prepared together a grant application, submitted today by the wholly owned Polish subsidiary of Scinai, seeking Euro 12 million of non-dilutive capital to fund the next stage of development of PC111. To facilitate the submission of the application, Pincell exclusively licensed PC111 to the subsidiary.  The grant application is under the European Funds for a Modern Economy (FENG) program in Poland. Subject to prior clearance of certain Italian regulatory formalities, an award decision is expected by mid-July/beginning of August. 

Posted In: SCNI