SciTech Development, a Grosse Pointe Farms, MI-based pharmaceutical company that has developed a patented nanoparticle drug delivery platform (SDP), raised $2.73M in funding.
The round was led by Storm Lake Capital (SLC), HRN Family Office, The National Foundation for Cancer Research (NFCR), along with Pointe Angels and other accredited investors.
The company intends to use the funds to accelerate its first clinical trials of ST-001 nanoFenretinide for the treatment of T-Cell Non-Hodgkin Lymphoma.
Led by Earle Holsapple, President, SciTech Development is a specialty pharmaceutical company that has developed a patented nanoparticle drug delivery platform (SDP) that maximizes the bioavailability of water-insoluble therapeutics. Its lead drug candidate, ST-001 nanoFenretinide, combines the delivery system with fenretinide as a broadly applicable cancer-fighting drug. ST-001 has FDA Investigational New Drug (IND) approval and Orphan Drug designation.
The company is commencing a second $3M Convertible Note Round (CNR), and a $14M Series A raise as they approach the dosing of the first set of patients in the upcoming clinical trials.
FinSMEs
07/06/2023