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The Contract Manufacturing Agreement Will Provide the Clinical Supply of ST-001, SciTech’s Lead Drug Candidate for Cancer
GROSSE POINTE FARMS, Mich. – October 20, 2022 – (Newswire.com)
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/.
Contact Information:
Harry Kochat, PhD.
Director of Operations & Business Development
David Schaffer
Director Investor Relations
Press Release Service
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Scitech and the Plough Center Announce Manufacturing Agreement
The company offers innovative and accessible diagnostic solutions that improve IVF success rates
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PALO ALTO…
The company offers innovative and accessible diagnostic solutions that improve IVF success rates
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PALO ALTO…
MALVERN, Pa. – October 20, 2022 – (Newswire.com)
Toetal Solutions, Inc., a foot and ankle medical device company, announced it had closed $1,800,000 in additional financing from Runway Healthcare, LP, with participation from Runway Healthcare investors. Toetal Solutions plans to use the proceeds to finalize product development and obtain regulatory clearance for its flagship product, the Ziptoe™ Hammertoe System.
The Ziptoe Hammertoe System enables foot and ankle surgeons to address rigid hammertoe deformities with a simple, easy-to-use implant. “The system has been thoughtfully designed with surgeon input to address the common pitfalls of the devices available to surgeons today. The Ziptoe implant is easy to use and provides an incredibly stable fusion from the moment it is deployed. Additionally, it enables surgeons to address the MTPJ if necessary, addressing the Toetal Pathology with a Toetal Solution,” stated Nick Romansky, DPM. The Ziptoe system includes a proprietary deployable nitinol implant that comes sterile packed with all necessary disposable instrumentation to perform the procedure in any surgical setting efficiently and effectively.
“This financing should enable our team to finalize the development of the Ziptoe Hammertoe System and achieve FDA approval, fundamentally changing how surgeons address forefoot deformities. We aim to improve patient outcomes while making the surgeons’ lives easier,” said Co-Founder and Chief Technology Officer William Rhoda.
Toetal Solutions is Runway Healthcare’s second portfolio company. The medical device accelerator combines capital and direct management to bring commercially ready opportunities to the medical device industry following regulatory approval. Runway Healthcare will seek to transition Toetal Solutions’ ownership to a larger multi-national healthcare company for commercialization.
About Toetal Solutions, Inc.:
Toetal Solutions was founded in 2021 to create easy-to-use and clinically effective solutions for foot and ankle deformities. The Ziptoe™ Hammertoe System features a sterile packed procedure kit and implant to address ridged hammertoe deformity.
About Runway Healthcare, LP:
Runway Healthcare is an early-stage MedTech Accelerator focused on early-stage technology in the Orthopedic, Cardiovascular, and Neurology sectors. Runway finances and manages the product development process of its portfolio companies. Upon navigating a portfolio company through the regulatory process, Runway Healthcare will seek to transition its portfolio companies’ ownership to larger multi-national healthcare companies for commercialization.
Forward-Looking Statements:
This press release contains “forward-looking statements” concerning the development of Toetal Solutions products, the potential benefits and attributes of those products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions, and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. Toetal Solutions undertakes no obligation to update any forward-looking statements for any reason.
Inquiries: [email protected]
Contact Information:
Jeff O’Donnell, Jr
President and CEO
Press Release Service
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Newswire.com
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Toetal Solutions Secures $1,800,000 in New Financing to Pursue Product Development and Regulatory Approval
Healthcare providers turning to USME, leading provider of rented medical equipment and patient beds and therapeutic surfaces, to prepare for patient surges
HOUSTON – October 20, 2022 – (Newswire.com)
With the CDC reporting flu cases starting to climb, healthcare providers across the U.S. are preparing for an early wave of influenza this winter. In addition to urging everyone eligible to get immunized against COVID-19 and the flu, hospitals are renting medical equipment from US Med-Equip (USME) to help treat any influx of patients expected this flu season.
The cases of respiratory illnesses caused by the flu typically start to climb exponentially in November, spike through the holiday months and peak through the end of February. The Centers for Disease Control and Prevention this week reported “early increases in seasonal influenza activity … in most of the United States.”
Amid prolonged strain on clinical staff and budgets since COVID struck, hospitals are turning to trusted partner USME—the nation’s leading provider of rented respiratory, neonatal, infusion and other devices—to bolster their supplies of life-saving equipment before the annual flu epidemic strikes. The Houston-based company partners with top hospitals across the nation in the rental, sales, service and asset management of movable medical equipment ranging from ventilators to patient beds and therapeutic surfaces that a hospital may need based on the number of patients expected or admitted at the time.
“We’re all hoping for a mild season with low case numbers and as few hospitalizations as possible, but healthcare providers are not waiting for flu cases to spike before securing and servicing equipment to be ready to help any surge of patients,” US Med-Equip CEO Greg Salario said.
Contact Information:
Matthew Stanford
Communications Specialist
713-983-8860
Press Release Service
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Newswire.com
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As Flu Cases Climb Early, Hospitals Gearing Up With US Med-Equip
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