Internal MOnthly Newsletter

Together, we build. Together, we grow.

What we achieved, how we're performing, who made it happen, and what matters next.

Issue: October 2026

CEO NOTE

A Note from Leadership

Perspective on the month, progress against our objectives, and where we're focusing next.

Dear colleagues and Board members,

We ended October with a larger base of committed customer orders and a stronger financial position. We signed the expanded Relmada agreement, secured new work for Yavne and raised approximately $5.3 million in net financing. Our teams also made tangible progress on customer delivery, while a series of Board meetings examined how we should build on this growth and shape Scinai's next stage of development.

A major customer agreement and progress in Jerusalem

The expanded Relmada NDV-01 agreement was October's principal commercial milestone. Announced on 13 October, it includes approximately $5.1 million in committed base service fees, subject to delivery and the agreement's terms. The scope brings together development, support for the U.S. Investigational New Drug (IND) submission, clinical manufacturing, stability studies and prefilled-syringe development.

The Jerusalem team completed a 350-vial technical batch, including manufacturing, filling and freezing. We also advanced analytical equipment installation and established a dedicated customer data room to support document review. These are practical steps toward Relmada's year-end IND filing target, and they reflect the coordinated work required across development, production, quality and supporting functions.

New work in Yavne and a growing order book

On 28 October, Telomir signed our proposal for approximately NIS 940,000 of work at Yavne, with delivery targeted before year-end. Across the business, reported Committed Customer Orders reached approximately $8.1 million as of 20 October, compared with $1.9 million at the end of 2025. The total includes work across delivery periods and is separate from recognized revenue.

Advancing the next customer opportunities

On 29 October, we sent Sun Pharma a preliminary commercial proposal covering clinical supply and a possible path to later commercial manufacturing in a dedicated suite. The opportunity remains under discussion, but the proposal gives both teams a concrete basis for progressing the technical, commercial and investment requirements. Our international outreach also continued, with Helen reporting 16 meetings at CPHI and preparations under way for BIO-Europe in November.

Strengthening our financial position

October's financing transactions brought in approximately $5.3 million in combined net proceeds. Together with the growing customer business, this strengthened our ability to plan and fund delivery. In the 20 October shareholder letter, we reported an estimated operating runway into late 2027, based on the operating, sales and collection assumptions presented at that time. Delivering our projects and collecting payments as planned remain essential to that outlook.

Working with the Board on our next stage of growth

We held multiple Board meetings during October, including the sessions on 13 and 28 October, to review our strategic direction. The growing CDMO business and improved liquidity gave us a more concrete basis for discussing where to focus our people and capital. We examined how to develop a sustainable, profitable services business, what further capacity and capabilities it may require, and how proprietary R&D should contribute to Scinai's future.

The discussions also challenged us to assess our current R&D programs and alternative opportunities against consistent criteria: scientific differentiation, development evidence, cost, funding and the value Scinai could retain. My proposed funding priorities are to protect contracted delivery and working capital, invest in profitable CDMO growth, and fund selected R&D through defined milestones. The portfolio review remains open. The work completed in October will inform the next Board discussion and our 2027–2028 operating plan.

Progressing research partnerships and funding efforts

We completed the three-party confidentiality agreement with Mabion and WPD and continued discussions on a potential Polish development and funding partnership. The structure, contributions and intellectual-property arrangements still need to be agreed. In parallel, we progressed discussions with MPG/UMG on amended IL-17 licensing terms, including development timelines and rights for humanized and multispecific formats.

Our funding work included the Israel Innovation Authority reconsideration hearing on 15 October and the Polish FENG grant protest process. These remain efforts to secure funding, with no new award confirmed. We also reviewed early IL-17A-binding results from the Protos AI-assisted discovery collaboration. Further optimization and functional testing are needed to assess their potential. More on all of this in the R&D section below.

Preparing for November

We launched the 2027–2028 budgeting exercise to connect our growth plans with the staffing, equipment and expenditure needed to deliver them. November's immediate priorities are to advance Relmada's year-end objective, confirm the Telomir delivery schedule and complete departmental budgets. BIO-Europe will provide an opportunity to develop the customer and partnering discussions prepared during October. I have also proposed a further Board strategy meeting in November to continue the review after the conference.

Thank you to everyone who contributed to October's progress, across Jerusalem, Yavne and our corporate team, and to the Board for the time devoted to these strategic discussions. Securing new business and funding takes considerable work, as does turning those commitments into reliable delivery. I appreciate the effort behind both. As the workload grows, we need to keep supporting one another and give quality and safety the attention they require.

Kind regards,

— Amir Reichman, CEO

Scinai at a Glance

Our recurring KPI dashboard — a consistent, simple read on how the business is performing, month over month.

$8.1M

committed customer orders as of October 20, up from $1.9M from 2025

$5.1M

committed base service fees from the expanded Relmada NDV-01 agreement

NIS 940K

new Telomir work signed at Yavne, delivery targeted before year-end

$5.3M

net proceeds raised through October's financing transactions

350

vial technical batch completed at Jerusalem for NDV-01

16

scheduled business appointments at CPHI Milan, plus 189 injectable prospect profiles resolved

Committed orders are as reported by leadership at October 20. Invoiced revenue and year-to-date versus budget by site remain pending Finance confirmation. CPHI figures are activity metrics, not orders or revenue.

SECTION 01

Commercial & Customer Momentum

New customers, orders, proposals, opportunities in the funnel, meetings and partnerships — company-wide.

| The expanded Relmada NDV-01 agreement anchors a record month for new business.

Helen represented Scinai at CPHI Milan

Updates

  • The expanded Relmada NDV-01 agreement, announced October 13, includes approximately $5.1 million in committed base service fees, subject to delivery and the agreement's terms — spanning development, U.S. IND submission support, clinical manufacturing, stability studies and prefilled-syringe development.

  • On October 28, Telomir signed our proposal for approximately NIS 940,000 of work at Yavne, with delivery targeted before year-end.

  • Company-wide, reported Committed Customer Orders reached approximately $8.1 million as of October 20 — up from $1.9 million at the end of 2025.

  • On October 29, we sent Sun Pharma a preliminary commercial proposal covering clinical supply and a possible path to later commercial manufacturing in a dedicated suite; the opportunity remains under discussion.

  • Scinai took part in CPHI Milan on October 6 to 8 (details below), and BIO-Europe preparations are under way for November.

WHY IT MATTERS

An order book growing from $1.9M to $8.1M in under a year, anchored by a flagship program like NDV-01, is the clearest evidence yet that Scinai's CDMO pivot is converting capability into committed revenue.

CPHI MILAN, OCTOBER 6 TO 8

| CPHI Milan strengthens partnerships and the follow-up pipeline.

  • Recipharm hosted Scinai as a partner at Stand 6A58, giving the team a shared meeting point for coordinated introductions.

  • The event plan held 16 scheduled business appointments (attendance was not confirmed for every one), and prospecting work resolved 189 European injectable prospect profiles.

  • Follow-up is moving across sterile manufacturing, complex chemistry and complementary technical partnerships. Conversations pointed to demand for complex sterile products, long-acting injectables, liposomes, nanoparticles, small clinical batches and specialist chemistry. These are demand signals and exploratory opportunities, not new capabilities or booked orders.

  • Visibility: four company LinkedIn posts (Sept 30 to Oct 8) drew 1,127 impressions and 132 clicks, and Helen's two original posts drew 2,308 impressions, excluding reposts. These are content views, not unique people or attributed leads.

  • Proposed next steps with Recipharm: reciprocal introductions, clear technical ownership and a shared referral pipeline, all still subject to confirmation.

Technical qualification and commercial discussions remain in progress. No new contract win or revenue is claimed from CPHI activity.

WHY IT MATTERS

CPHI reinforced demand for responsive technical problem-solving and flexible clinical manufacturing, supported by Scinai's development-to-commercial collaboration with Recipharm. The immediate value is stronger visibility and a defined follow-up pipeline. Converting it into contracted work is the next objective.

SECTION 02

Operations & Capabilities

What's being executed and what capabilities are being built at each site.

JERUSALEM

| 350-vial technical batch completed for NDV-01.

Production team during processing; final filled syringes shown.

The Jerusalem team completed a 350-vial technical batch (manufacturing, filling and freezing) for the NDV-01 program. In parallel, the site advanced analytical equipment installation and established a dedicated customer data room to support Relmada's document review.

With the technical batch produced, Scinai has moved into active manufacturing-readiness activities for Relmada's NDV-01 program, a complex cytotoxic aseptic process. The site is now progressing through aseptic process simulation, followed by the IND batch, planned for November, to support the IND submission. Tehila calls the technical batch the first essential milestone: the product of countless hours across departments, and proof that nothing is impossible.

Also this month

  • All departments (production, QC, engineering and QA) are working toward readiness for the IND batch.

  • Ambica's new filling machine has been dispatched and is expected to arrive soon.

  • New equipment is installed in the QC lab: three new HPLC devices and a microbalance.

For leadership awareness: an internal audit of all departments yielded observations that now need to be addressed.

WHY IT MATTERS

These are practical, trackable steps toward Relmada's year-end IND filing target, and they show the coordinated work a program of this scale requires across development, production, quality and supporting functions.

Yavne

| New Telomir work signed, delivery targeted before year-end.r

On October 28, Telomir signed our proposal for approximately NIS 940,000 of work at Yavne, with delivery targeted before year-end.

WHY IT MATTERS

Fresh committed work at Yavne broadens the site's customer base beyond its earliest anchor accounts and contributes directly to the company's growing order book.

SECTION 03

R&D and Corporate/Strategic Milestones

Program-level R&D and licensing progress.

| IIA reconsideration meeting held; formal appeal submitted on the Polish FENG grant.

  • Bispecific IL-17 program — FENG application — continued advancement of the FENG grant application supporting development of Scinai's bispecific IL-17 program through preclinical development and IND readiness.

  • Israel Innovation Authority — bispecific program — on October 15, Scinai held a reconsideration meeting with IIA evaluators regarding its grant application for bispecific antibody development through in vivo proof of concept. The discussion focused on establishing new technology capabilities in the design, engineering and characterization of bispecific and multispecific antibodies. A funding decision is expected by the end of November.

  • Intradermal IL-17A/F program — Polish FENG grant — following an unfavorable Stage II funding decision, Scinai is submitting a formal appeal with its Polish consultants. A substantial portion of the evaluators' criticism appears to stem from factual inaccuracies and internal inconsistencies in the Evaluation Sheet, which Scinai believes affected the assessment of key criteria.

  • AI-assisted NanoAb discovery — ProtOS collaboration — continued collaboration with ProtOS on AI-assisted antibody design and optimization. A new computational workflow for optimizing antibody cross-reactivity was developed, tested and deployed. Discussions also advanced toward de novo VHH discovery and integration of AI-driven design with laboratory validation to improve discovery efficiency.

  • NanoAb platform — IP and development strategy — continued discussions with research and licensing partners, including the Max Planck Society and University Medical Center Göttingen, on an updated licensing framework to support the incorporation of licensed NanoAbs into future bispecific and multispecific therapeutics.

Partnerships and Portfolio Review

  • Mabion / WPD — completed a three-party confidentiality agreement and continued discussions on a potential Polish development and funding partnership; structure, contributions and IP arrangements still need to be agreed.

  • MPG/UMG — progressed discussions on amended IL-17 licensing terms, including development timelines and rights for humanized and multispecific formats.

  • Protos AI-assisted discovery — reviewed early IL-17A-binding results; further optimization and functional testing are needed to assess their potential.

  • Portfolio review — the Board is assessing current R&D programs and alternative opportunities against consistent criteria — scientific differentiation, development evidence, cost, funding and the value Scinai could retain — to decide where to invest. The review remains open and will inform the 2027–2028 operating plan.

WHY IT MATTERS

These activities advance Scinai's therapeutic pipeline while strengthening its technological capabilities and access to non-dilutive funding. Combining AI-assisted discovery, antibody engineering, strategic collaborations and IP protection can help accelerate development, reduce costs and risks, and create new opportunities for future therapies and partnerships.

SECTION 04

One Scinai

A specific project, achievement or initiative each month that shows Jerusalem, Yavne and Immunotherapeutics creating value
together — not integration in the abstract, but people, expertise and capabilities actually working as one organization.

| One set of criteria for deciding where Scinai invests.

October's Board sessions didn't treat the CDMO business and proprietary R&D as separate conversations — they were reviewed together, against the same criteria: scientific differentiation, development evidence, cost, funding, and the value Scinai could retain. That's a genuinely "one organization" way of allocating capital, rather than two business units making the case for funding in isolation.

On the ground, the same spirit showed up in Jerusalem's 350-vial technical batch for NDV-01 — development, production, quality and supporting functions working in close coordination toward one deadline, rather than handing the work off between silos.

WHY IT MATTERS

Deciding where to invest — CDMO growth or R&D milestones — under one set of criteria, as one Scinai, is what lets the company make hard trade-offs rationally rather than defaulting to whichever team makes the loudest case.

Employee Spotlight

The stage goes to one colleague; so people across Jerusalem, Yavne and the different functions get to know one another better.

Dr. Keti Lerman — Project Manager, Yavne Site

What they studied: Dr. Keti holds three academic degrees from Bar-Ilan University, including a Ph.D. in Organic Chemistry and Small Molecules, which she completed in 2013.

Family & hobbies: Dr. Keti lives in Kiryat Ono. She is married and the proud mother of two children: Shaked (13) and Noam (8).

Day-to-day at Scinai: Dr. Keti currently manages the SKNY-1, MIRA-55, Beta projects, and cleaning validation programs. In her role, she coordinates activities across the various departments involved in each project, including Development & Analytics, Manufacturing, Troubleshooting, Customer Communications, Customer Billing, and ensuring smooth collaboratio nand successful project execution.

Something colleagues might not know: Dr. Keti has been part of the company since its Recipharm days, joining in 2018. Throughout her career, Dr. Keti has combined hands-on laboratory work with project management responsibilities. Before joining the company, she worked at Teva Pharmaceuticals as an R&D Chemist.

What they'd like the team to understand or pay attention to, to help them and their function succeed: Dr. Keti emphasized the importance of having the necessary resources readily available, whether in the form of equipment and instrumentation, or sufficient personnel. She believes that timely access to these resources is essential for maintaining project quality, supporting efficient execution, and ensuring steady progress toward project goals.

SECTION 05

People, Recognition & Safety

Our team, who earned recognition this month, and how we're staying safe.

Shavuot at the Jerusalem site — the first joint gathering of the company's two sites since the Yavne acquisition..

People

  • Dr. Oded Ovadia joined the team in August and was previously part of the Scinai team. We are very pleased to have Dr. Oded back!

  • Dr. Oded Ovadia holds a Ph.D. in Pharmacy from the Hebrew University of Jerusalem. Prior to his time at BiondVax, which later became Scinai, Oded spent more than a decade at Valin as Head of the Analytical Department. He recently rejoined the company to provide significant support to our Analytical Development and QC teams in Jerusalem, with a particular focus on advancing the extensive Relmada project, including key HPLC development activities.

  • Girma Fekadu joined the team in August and was previously part of the Scinai team.

  • Girma Fekadu has rejoined our Manufacturing team in Jerusalem, where he previously worked beginning in 2023. Girma brings valuable experience from several pharmaceutical companies, including Omrix (Johnson & Johnson) and Sigma-Aldrich, with extensive expertise in GMP environments and aseptic manufacturing processes.

  • Rafael Ben-Or joined our team in Yavne at the end of August.

  • Rafael brings over 30 years of experience in the pharmaceutical industry, including more than 17 years at BTG, with extensive expertise in manufacturing operations, GMP-compliant processes, technology transfer, process scale-up, and cross-functional project leadership. At Scinai, Rafael has joined the Manufacturing team under the leadership of Ido, where he will support both the development and manufacturing activities of our various projects.

  • Ofer Naor recently joined our Jerusalem site following a significant tenure at Aran Biotech, where he served as Operations Manager.

  • Ofer brings extensive experience in manufacturing operations, procurement and logistics, warehouse management, systems integration, and information systems. At Scinai, Ofer will serve as Warehouse and Logistics Manager under the leadership of Eran, helping support the company's continued growth and operational excellence. He holds a Practical Engineering degree in Instrumentation and Control from Tel Aviv University.

  • Eliyahu Preiser is the latest addition to our Jerusalem site.

  • Eliyahu brings approximately six years of experience in QC laboratories and analytical testing, particularly in HPLC operations, which play a key role in our development activities for the Relmada project. He holds a B.Sc. in Pharmaceutical Engineering from the Azrieli College of Engineering Jerusalem. Eliyahu has joined the QC team under the management of Merav, where he will contribute to the analytical and quality control efforts supporting our growing project portfolio.

Recognition

Leadership's thanks this month go to everyone who contributed to October's progress — across Jerusalem, Yavne and the corporate team — and to the Board for the time devoted to this month's strategic discussions. Securing new business and funding takes considerable work, as does turning those commitments into reliable delivery.

Helen and the colleagues behind the CPHI outreach: for preparing the outreach and technical materials, representing Scinai at CPHI Milan and progressing the follow-ups.

The Recipharm team: for hosting Scinai at Stand 6A58 and facilitating introductions.

The Jerusalem production, QC, engineering and QA teams: for the hours invested across departments to produce the first NDV-01 technical batch.

Safety

As the workload grows across both sites, leadership is asking everyone to keep supporting one another — and to give quality and safety the attention they require.

PERSONAL MILESTONES

Congratulations to Ruth on the birth of her second daughter, Ariela.

Mazel tov to Yoel on the birth of his first son, Reshef — Silvia and Enrique's third grandchild.

Congratulations to Solomon on his son's wedding.

SECTION 06

What Matters Next

The priorities leadership is watching heading into next month.

1. Execute the first aseptic process simulation, then the NDV-01 IND batch in November at Jerusalem, supporting Relmada's year-end IND objective.

2. Confirm the Telomir delivery schedule at Yavne ahead of year-end.

3. Address the observations from the October internal audit across departments.

4. Turn CPHI and BIO-Europe follow-up into qualified scopes: technical briefs and CDAs first, then assessments with the right Jerusalem or Yavne owner, then quotes. Confirm Recipharm referral ownership and hand-offs. These are planned priorities, not committed orders.

5. Complete departmental budgets and hold a further Board strategy meeting to continue the R&D and growth portfolio review.

EMPLOYEE CALL TO ACTION

Turning CPHI interest into projects needs quick technical input. If Business Development asks you for a brief or an assessment, a fast turnaround and a clear owner for each next step make the difference.

BIO-Europe is coming up in November. If you're attending, help build on the customer and partnering discussions from October.

Together, we build. Together, we grow.

Scinai Internal Monthly Newsletter — September 2026 Edition