Scinai Signs Financing Agreements Expected to Raise $4 Million

Scinai Immunotherapeutics signed a private placement and a warrant-exercise agreement expected to bring in about $4 million in gross proceeds before fees and expenses. The transactions involve the same existing institutional investor, with shares and accompanying warrants priced at $1.20 per American depositary share. Closing is expected around October 15, subject to customary conditions. Scinai plans to use the funds to expand its contract development and manufacturing platform, advance customer programs and selectively invest in its immunotherapy pipeline. Its subsidiary operates development and manufacturing facilities in Jerusalem and Yavne.