Scinai Immunotherapeutics CEO issues letter to shareholders

Scinai Immunotherapeutics published a letter from its CEO, Amir Reichman, addressing the company’s 2023 accomplishments, including successful preclinical trial results of its anti-IL-17 NanoAb psoriasis therapy and 2024 plans. The CEO letter reads as follows: “I’d like to start with highlighting our most recent and, in my mind, most exciting achievement: “A recently completed ex-vivo study indicates the potential of our anti-IL-17 VHH antibody (‘NanoAb’) to effectively and conveniently treat mild to moderate plaque psoriasis. Approximately 3% of the global population suffers from psoriasis, and the 78% of those patients who experience mild to moderate symptoms are largely underserved by existing treatments. While current biologic treatments can be highly effective, they are expensive, require systemic administration through periodic injections and since they can result in severe side effects are approved only for moderate to severe psoriasis. Existing medications for mild to moderate cases predominantly consist of generic localized treatments that do not effectively relieve symptoms or halt disease progression. The study results represent an important milestone in our mission to address significant unmet needs by developing a safe and effective biologic solution designed especially for mild to moderate psoriasis patients. We believe that our NanoAb will provide distinct benefits tailored to these patients’ particular needs, such as convenient local administration directly where needed, when needed, rather than chronic systemic administration of a biologic drug. In addition, we expect our NanoAb to allow superior manufacturing and supply chain efficiencies compared to current biologics, thereby further enhancing its value to patients, providers and payers… In 2024, Scinai plans to build on 2023’s momentum. We plan to complete the necessary requirements, including in-vivo and toxicology studies and GMP manufacturing, to initiate human clinical trials for our anti-IL-17 NanoAb by early next year. We also intend to grow our CDMO business, further strengthen our pipeline through our ongoing collaboration with Max Planck and UMG and pursue business development and partnerships in order to build long-term value for our CDMO customers, patients, and our investors.”