GROSSE POINTE FARMS, Mich., Oct. 20, 2022 (GLOBE NEWSWIRE) -- SciTech Development is pleased to announce that it has signed a $600K manufacturing agreement with The Plough Center for Sterile Drug Delivery Systems. The Plough Center will deliver the clinical supply of SciTech's lead cancer drug candidate, ST-001 nanoFenretinide. Delivery of the drug is expected in Q4 2022, which will be immediately followed by SciTech's first human clinical trial using ST-001 for Lymphoma. (ClinicalTrials.gov Identifier: NCT04234048).
Earle Holsapple, President of SciTech Development, said, "SciTech chose The Plough Center for their expertise in drug delivery manufacturing in addition to their intimate knowledge of combining and processing nanoparticles. We are confident that SciTech has selected the best possible partner and that this relationship will continue as we move forward, not only with ST-001, along with other drugs in our pipeline. This is a major milestone for SciTech as we rapidly approach our human clinical trials."
"We are excited to serve as the contract manufacturer for ST-001. We are extremely eager to work with SciTech in its mission to cure several cancer types," said Dr. Harry Kochat, Director of Operations and Business Development of The Plough Center. "ST-001 nanoFenretinide combines the SciTech Delivery Platform (SDP) and the promising drug fenretinide as a broadly applicable cancer therapeutic. The Plough Center will utilize our comprehensive NanoSpace formulation platform to provide ST-001 for clinical trials. Our in-house NanoSpace platform can produce nanosuspensions, nanoemulsions, and liposomal encapsulation products." The Plough Center specializes in developing and manufacturing complex, early-stage investigational drugs.
About SciTech Development
SciTech Development LLC is a clinical-stage pharmaceutical company that has developed a patented, nanoparticle drug delivery platform (SDP) that maximizes the bioavailability of water-insoluble therapeutics. SciTech's lead drug candidate ST-001 nanoFenretinide combines SDP and the drug fenretinide as a broadly applicable anticancer drug. ST-001 has an FDA Investigational New Drug (IND) approval, is Orphan Drug designated, and is Phase 1 clinical trial ready. More information about SciTech can be found at www.SciTechSDP.com.
About The Plough Center
The mission of The Plough Center for Sterile Drug Delivery Solutions is to help patients by expediting efforts to bring innovative, life-saving medicines to market. The Plough Center is a US-FDA registered cGMP sterile drug manufacturing facility owned by the University of Tennessee Health Science Center in Memphis. Plough assists universities, scientific communities, and the pharmaceutical industry in the manufacture and delivery of therapeutic advances that will improve patient standard of care. More information about The Plough Center can be found at https://www.uthsc.edu/plough-center/.
Harry Kochat, PhD.
Director of Operations & Business Development
Director Investor Relations
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