Scorpius Holdings Announces Contract with Premier Clinical-Stage Biotech Company; Opens Door to Future GMP Manufacturing Opportunities

DURHAM, N.C., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX) ("Scorpius" or "the Company"), an integrated contract development and manufacturing organization ("CDMO"), today announced it has signed a contract to provide bioanalytical services for a publicly traded clinical-stage immuno-oncology company.

This collaboration opens the door for further opportunities, as Scorpius expects to expand its services to include additional analytical work and future GMP manufacturing upon completion of this initial phase. This contract underscores Scorpius' expertise in delivering critical bioanalytical and process development services, further establishing its role as a trusted partner in the biologics manufacturing space.

Jeff Wolf, CEO of Scorpius, commented, "This important contract is a clear validation of Scorpius' comprehensive capabilities which include advanced bioanalytical services. Our state-of-the-art bioanalytical and process development facilities enable us to offer an integrated solution that meets the diverse needs of biologics manufacturers. We are excited by the potential to develop this partnership further and to offer ongoing bioanalytical support and future GMP manufacturing services to help advance this client's clinical programs."

Scorpius Holdings, Inc.

Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit www.scorpiusbiologics.com.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as Scorpius expanding its services to include additional analytical work and future GMP manufacturing upon completion of the initial phase of the contract;. and the potential to develop the partnership further and to offer ongoing bioanalytical support and future GMP manufacturing services to help advance this client's clinical programs contributing its proprietary scientific expertise and resources to accelerate innovations aimed at Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to derive the anticipated benefits from the partnership including expanding the services to be provided the Company's ability to expand its large molecule biomanufacturing CDMO services, attract new customers, profit from its pipeline and continue to grow revenue; the ability to capture a meaningful market share; the ability to generate meaningful cash flow and become cash flow positive; the Company's financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company's ability to leverage fixed costs and achieve long-term profitability; the Company's ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company's ability to successfully promote its services and compete as a pure-play CDMO, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.

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