On September 24, 2025 SciTech Development, Inc., a clinical-stage oncology company advancing its innovative nanotechnology-enabled cancer drug, reported the successful close of its Convertible Note Round #3 (CNR 3) at $5.5 million (Press release, SciTech Development, SEP 24, 2025, View Source [SID1234656204]). The round, which officially closed on September 5, 2025, surpassed its original $3.0 million target by $2.5 million.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The strong investor response is driven by extraordinary interim results from SciTech’s lead drug candidate, ST-001 nanoFenretinide (ST-001), which is currently being evaluated in clinical trials for T-cell Non-Hodgkin Lymphoma (T-cell NHL) across nine prestigious cancer centers.
"This has truly been a breakout year for SciTech," said Earle Holsapple, CEO of SciTech Development. "The oversubscription of our CNR 3 underscores the confidence investors place in our science, our market position, and the transformative potential of ST-001. We are deeply grateful to both new and returning investors for their belief in our mission and support as we advance into the next phase of our trials."
Recent Clinical Highlights
ST-001 has achieved an unprecedented 100% Disease Control Rate at the highest dose levels to date, with all patients demonstrating either stable disease, partial responses, or showing a clear trajectory toward complete responses.
Several patients have already experienced confirmed partial responses, marking a critical step on the path toward potential complete responses.
ST-001 nanoFenretinide has demonstrated efficacy in both early- and late-stage cancer patients, reinforcing its broad therapeutic potential.
Along with this documented clinical activity at therapeutic doses, the trial has confirmed ST-001 safety, validating the strength of the underlying science behind the drug.
Importantly, most patients report minimal side effects and have chosen to remain in the trial because of the positive impact on their health and quality of life.
"Our new and returning investors are motivated by the exceptional interim trial results we’ve delivered and the proven strength of our team," said Andrew Stumpf, CFO of SciTech Development. "This investment enables us to continue to advance clinical development in both T-cell NHL and Small Cell Lung Cancer, while building a strong foundation for our future pipeline."