Scinai Announces Entering into $2 Million Private Equity Commitment Agreement with its largest Existing Shareholder

JERUSALEM, Aug. 20, 2024 /PRNewswire/ -- Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI);("Scinai", or the "Company"), a biopharmaceutical company focused on developing inflammation and immunology (I&I) biological products and on providing CDMO services through its Scinai Bioservices business unit, today announced that it has entered into a $2 million Investment Commitment Agreement (the "Agreement") with RK Stone Miami LLC, an affiliate of Mr. Daniel Stone, the largest shareholder of the Company (the "Investor").