Scinai Welcomes Liat Halpert as Head of Business Development and Sales

JERUSALEM, ISRAEL – Feb. 13, 2024 - Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI), a biopharmaceutical company focused on developing inflammation and immunology (I&I) biological products and providing CDMO services through its Scinai Bioservices business unit, today announced the appointment of Liat Halpert as Head of Business Development and Sales. Halpert brings extensive pharmaceutical sales and marketing experience and joins Scinai following 14 years at Novartis, most recently having served as Marketing and Commercial Excellence Lead for cell and gene therapies for Central, Southern and Eastern Europe.

Scinai’s broad pharmaceutical development experience, along with its end-to-end biologics drug development and GMP manufacturing facility, drove the Q3 2023 launch of Scinai Bioservices, a boutique end-to-end CDMO business unit, to assist biotech companies efficiently bring their products to market. The company has already signed contracts with several local biotech companies and is in advanced discussions with a number of other potential clients. Halpert’s initial focus is to expand the business by targeting European and US-based biotech companies to support further growth of the CDMO business into a significant revenue generator for Scinai as well as a key partner for small biotechnology companies.

Scinai’s R&D unit is focused on developing an innovative, de-risked pipeline of nanosized VHH antibodies (NanoAbs) licensed from the Max Planck Society and the University Medical Center Göttingen in Germany. The pipeline is targeting I&I diseases with large unmet medical needs, with its leading product being an intradermal, local injection of a NanoAb targeting IL-17 for the treatment of mild to moderate plaque psoriasis. The company recently announced successful preclinical ex-vivo trial results of its psoriasis therapy in psoriatic human skin specimens, is currently executing an in-vivo proof-of-concept study, and plans to enter human clinical trials in 2025. The IL-17 results follow the successful preclinical results of Scinai’s COVID-19 NanoAb therapy, which demonstrated in pre-clinical challenge studies the potential of Scinai’s NanoAbs to prevent and treat hyper infectious viral respiratory diseases, to be effective and safe at low doses, and to be successfully delivered via inhalation, a uniquely convenient route of administration. NanoAbs targeting several other I&I diseases have also been discovered by Scinai’s research partners and Scinai has exclusive options for exclusive licenses at pre-agreed financial terms for each of these NanoAbs. In addition to expanding the CDMO’s business development and sales activities, Halpert will support partnering and out-licensing activities with mid and large cap pharma companies with which Scinai plans on bringing the NanoAbs through clinical trials and towards commercialization.

Amir Reichman, Scinai’s CEO, commented, “I am pleased to welcome Liat to Scinai. Her pharmaceutical sales, marketing, and leadership experience, in particular in Israel and Europe, align with our strategic decision to grow Scinai Bioservices CDMO into a trusted provider of drug development services, including for preclinical and clinical trials and GMP manufacturing for clinical supplies.”

Halpert commented, “I am thrilled to join Scinai where I’ll be leading business development and sales of our state-of-the-art end-to-end CDMO services in the global biotech arena.  I am also excited to support the partnering and business development efforts for Scinai’s NanoAb therapeutics pipeline which in my opinion shows great potential for success. I believe Scinai’s future is promising and bright, and I look forward to contributing and collaborating with the team.”

Halpert holds an MSc. in Nutrition Science from the Hebrew University of Jerusalem.

About Scinai: Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI) is a biopharmaceutical company with two complementary business units, one focused on in-house development of inflammation and immunology (I&I) biological therapeutic products beginning with an innovative, de-risked pipeline of nanosized VHH antibodies (NanoAbs) targeting diseases with large unmet medical needs, and the other a boutique CDMO providing biological drug development, analytical methods development, clinical GMP manufacturing, and pre-clinical and clinical trial design and execution services to early stage biotech companies. Company website: www.scinai.com.

Company Contact: Investor Relations | +972 8 930 2529 | ir@scinai.com

Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, the potential of Scinai’s anti-IL-17 NanoAb, and the expansion of the CDMO business and the timing of human clinical trials. These forward-looking statements reflect management's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause the results to differ materially from those expected by the management of Scinai Immunotherapeutics Ltd. Risks and uncertainties include, but are not limited to, the risk of delay in, or Scinai’s inability to conduct, its research and development activities, including the contemplated in-vivo  studies and a clinical trial; the risk that Scinai will not remain listed on Nasdaq; the risk that Scinai will not be successful in expanding its CDMO business or in-license other NanoAbs; the risk that Scinai may not be able to secure additional capital on attractive terms, if at all; the risk that the therapeutic and commercial potential of NanoAbs will not be met or that Scinai will not be successful in bringing the NanoAbs towards commercialization; the risk of a delay in the preclinical and clinical trials data for NanoAbs, if any; the risk that our business strategy may not be successful; the risk that the European Investment Bank (EIB) may accelerate the financial facility under its finance contract with Scinai; Scinai's ability to acquire rights to additional product opportunities; Scinai's ability to enter into collaborations on terms acceptable to Scinai or at all; timing of receipt of regulatory approval of Scinai’s manufacturing facility in Jerusalem, if at all or when required; the risk that the manufacturing facility will not be able to be used for a wide variety of applications and other vaccine and treatment technologies; and the risk that drug development involves a lengthy and expensive process with uncertain outcomes. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on April 17, 2023, and the Company’s subsequent filings with the SEC. Scinai undertakes no obligation to revise or update any forward-looking statement for any reason.