[Paulness]

NEWS -- Scorpius Holdings and Beyond Imagination Announce Trailblazing Partnership to Utilize Autonomous AI-Powered Humanoid Robots for American Biomanufacturing

• Collaboration aims to enhance biomanufacturing reliability, scalability and efficiency
  
  
• Autonomous humanoids designed to complement human labor and
  enhance productivity through 24/7 operational capabilities
  
  
• Beyond’s Hive Mind capability allows autonomous humanoids to share and scale biomanufacturing knowledge and improve collective intelligence and operational efficiency

DURHAM, N.C., June 03, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (‘Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today announced a groundbreaking strategic partnership with Beyond Imagination, Inc. (“Beyond”), a US-based developer of autonomous AI-powered humanoid robots. The goal of the collaboration is to introduce advanced AI robotics to enhance biomanufacturing productivity and efficiency, as well as bolster US preparedness for pandemics and other crises.



Beyond Imagination’s autonomous humanoids in action

The partnership aims to address the significant challenges posed by the increased demand for rapid-scale biomanufacturing and the limited supply of skilled labor. At the heart of this effort is the introduction of Beyond’s autonomous humanoids that possess the ability to learn from and collaborate with human colleagues, continuously improving their capabilities. AI robotics have been deployed in other industries, where they excel at learning new procedures and protocols and deploy these learnings to exacting standards. Beyond’s AI robotics platform has the potential to seamlessly integrate into existing workflows in the biomanufacturing regulated environment, thereby enhancing both efficiency and output.

One of the most significant benefits of Beyond’s autonomous humanoids is their ability to operate nearly 24/7, with the potential to enhance manufacturing facility utilization and productivity. Beyond’s proprietary AI technology also features Hive Mind capability, which allows their autonomous humanoids to share knowledge and improve collective intelligence to increase operational efficiency.

Beyond’s video demonstration of its autonomous humanoids in action is available at: https://youtu.be/nhgtrSITeqU?si=lZedcsgspNG2eWke

Dr. Harry Kloor, Ph.D., Ph.D., Executive Co-founder and CEO of Beyond Imagination, stated, “This partnership marks a major advance in the integration of advanced AI robotics into vital sectors, setting the foundation for a future where technology and human expertise align to transform the biomanufacturing and pharmaceutical industries. We are excited to work closely with the Scorpius team to improve biomanufacturing production for the benefit of customers and ultimately patients. Together, we look forward to ushering in a new age of technological innovation in biomanufacturing, pharmaceutical manufacturing, and beyond.” Dr. Kloor continued, “Beyond’s synthetic AI Brain is modeled after the multi-lobe structure of the human brain, enabling it to learn many skilled jobs and operate safely alongside humans.”

Ray Kurzweil, Ph.D., Google’s Chief Futurist, best-selling author, and one of the world's leading inventors, thinkers, and futurists, is an investor in Beyond Imagination and contributed significant patents. Dr. Kurzweil further noted: “In much the same way that Tesla disrupted the car industry, humanoid robots are poised to disrupt nearly every sector, including the pharmaceutical and biomanufacturing industries. In fact, Elon Musk himself believes that humanoid robots will become more valuable than cars. I couldn’t agree more, and believe this partnership with Scorpius positions the two companies to transform the biomanufacturing industry by accelerating the production of lifesaving therapies.”

Jeff Wolf, CEO of Scorpius, commented, "We are thrilled about our partnership with Beyond Imagination, which represents a pivotal step in leveraging AI and robotics to support American biomanufacturing. Beyond’s humanoids incorporate cutting edge AI technology, and we have partnered with Beyond to develop capabilities that include performing complex lab tasks and enhancing the precision and quality that our manufacturing processes demand.

Mr. Wolf continued, “We have seen growth in customer demand, and as our clients evolve to commercial production, we believe these autonomous humanoids will enable us to scale production at unprecedented rates. Recent global events have also highlighted the critical need for biomanufacturing readiness, including pandemics and national threats where traditional approaches requiring extensive at-the-ready manpower may inhibit the rapid production of life-saving drugs. We believe that the innovative use of autonomous humanoids can help ensure that production can pivot swiftly to support national emergencies. We look forward to working with Beyond to leverage their autonomous humanoids into the future of biomanufacturing.”

Beyond Imagination, Inc.

Beyond Imagination is a trailblazer in the development of AI-based autonomous humanoid robots. The Beomni AI Brain enables the training and deployment of “Expert Minds” for specific professions. This highly scalable technology is being targeted for deployment in many fields, including the biomanufacturing and pharmaceutical fields. Beyond Imagination’s stellar team of visionaries has been actively piloting and refining its humanoid in real-world environments for more than three years, demonstrating advanced real-world capabilities.

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, Texas. 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 https://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 the collaboration enhancing biomanufacturing reliability, scalability and efficiency; autonomous humanoids complementing human labor and enhancing productivity; the collaboration bolstering US preparedness for pandemics and other crises; the partnership addressing the significant challenges posed by the increased demand for rapid-scale biomanufacturing and the limited supply of skilled labor; the potential of the humanoids to seamlessly integrate into existing workflows in the bio manufacturing regulated environment, thereby enhancing both efficiency and output; the partnership marking a major advancement in the integration of advanced AI robotics into vital sectors, setting the foundation for a future where technology and human expertise align to transform the biomanufacturing and pharmaceutical industries; humanoid robots being poised to disrupt nearly every sector; humanoid robots becoming more valuable than cars; the partnership between Beyond Imagination and Scorpius positioning their two companies to transform the biomanufacturing industry by accelerating production of lifesaving therapies; the autonomous humanoids enabling Scorpius to scale production at unprecedented rates; and the innovative use of autonomous humanoids helping ensure that production can pivot swiftly to support national emergencies. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the partnership to derive the benefits anticipated, the ability of the humanoid robots to perform as expected including enhanced biomanufacturing reliability, scalability and efficiency and scale products at unprecedented rates and ensure that production can pivot swiftly, the adoption and acceptance of humanoid robots in the pharmaceutical and biomanufacturing industries, the Company’s ability attract new customers, profit from its bookings 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.

Media and Investor Relations Contact
David Waldman
[phone]
mailto://[e-mail]

[Paulness]

NEWS -- Scorpius Holdings Achieves 359% Year-Over-Year Increase in Revenue for the First Quarter of 2024



Reduces operating expenses by 34% and net loss by 64%

DURHAM, N.C., May 29, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (‘Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today provided strategic, financial, and operational updates for the first quarter ended March 31, 2024.

Jeff Wolf, CEO of Scorpius Holdings, Inc., stated, “We are successfully executing our strategy to enhance revenue and reduce costs as we seek to become cash flow positive in the near future. This quarter is indicative of this goal as we achieved a 359% increase in revenue while reducing operating expenses by 34% over the same period last year. We believe this performance reinforces the growing demand for our services and our prudent financial management. Moreover, we have built a highly scalable business model poised to generate meaningful cash flow as we continue to grow our sales and increase utilization of our state-of-the-art San Antonio campus, which we anticipate will allow us to achieve meaningful operating leverage. We are very confident that the future for Scorpius is brighter than ever, with significant industry-wide capacity shortages, and our growing revenue backlog, which stood at $10.8 million as of March 31, 2024.”

2023 Financial Results

For the three months ended March 31, 2024, the Company recognized $3.5 million of revenue from process development. For the three months ended March 31, 2023, the Company recognized $0.7 million of process development revenue and $0.1 million of license revenue. The increase in process development revenue was attributable to the expanded biomanufacturing operations and service offerings of the CDMO.

Cost of revenues were $0.9 million and $0.6 million for the three months ended March 31, 2024, and 2023, respectively, and primarily consisted of the direct cost of labor, overhead and material costs at Scorpius. The increase in cost of revenues was due to the expanded service offerings and completed milestone work on multiple CDMO contracts.

Research and development expenses were $3.9 million for the three months ended March 31, 2024, compared to $6.3 million for the three months ended March 31, 2023.

Selling, general and administrative expenses were $5.0 million and $6.5 million for the three months ended March 31, 2024, and 2023, respectively. The decrease of $1.5 million was primarily due to decreases in marketing expense of $0.5 million, consultant labor of $0.5 million, and stock-based compensation of $0.5 million.

For the three months ended March 31, 2024, the change in fair value of contingent earn-out receivable, related party, was $1.0 million. This change was primarily due to an increase in expected value of the earn-out due to a new contract received by Elusys Therapeutics.

Total non-operating income was $0.7 million for the three months ended March 31, 2024, which primarily consisted of $1.0 million from the sale of an intellectual property license, partially offset by $0.2 million of interest expense on finance leases, and $0.1 million change in fair value of convertible promissory note, related party. Total non-operating income was $0.1 million for the three months ended March 31, 2023, which primarily consisted of $0.2 million of interest income, $0.1 million of unrealized gain on short-term investment balances, partially offset by $0.2 million of interest expense on finance leases and other expense.

Net loss attributable to Scorpius was approximately $4.4 million, or ($0.16) per basic and diluted share, for the three months ended March 31, 2024, compared to approximately $12.8 million, or ($0.49) per basic and diluted share, for the three months ended March 31, 2023.

As of March 31, 2024, the Company had approximately $1.7 million in cash, cash equivalents, and short-term investments. On May 16, 2024, the Company consummated a public offering resulting in aggregate gross proceeds of approximately $6.0 million, before deducting underwriting discounts and other offering expenses.

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 https://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 becoming cash flow positive in the near future, the performance reinforcing the growing demand for the Company’s services and its prudent financial management; the business model being poised to generate meaningful cash flow; continuing to grow sales and increase utilization of the state-of-the-art San Antonio campus which will allow the Company to achieve meaningful operating leverage, and the future for Scorpius being brighter than ever. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to expand its large molecule biomanufacturing CDMO services, attract new customers, profit from its bookings 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.

Media and Investor Relations Contact
David Waldman
[phone]
mailto://[e-mail]

[Paulness]

NEWS -- Scorpius Holdings Announces Major Expansion in San Antonio with New State-of-the-Art Storage and Testing Facility



DURHAM, N.C., May 20, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX), an integrated contract development and manufacturing organization (CDMO), today announced a significant expansion of its operational footprint in San Antonio, Texas, with the opening of its new, state-of-the-art storage and testing facility.

This expansion increases Scorpius' warehouse facilities more than sevenfold, from ~3,000 square feet to ~22,000 square feet. The upgrade is in response to the growing demand for Scorpius' biomanufacturing services and the need to accommodate its expanding client base.

The new facility is designed to meet or exceed industry standards with appropriate storage, continuity, and security controls for biopharmaceutical materials. It will feature specialized storage areas with temperatures maintained between -20°C and -80°C for raw materials, alongside spaces designated for contained sampling and quality control testing. Additionally, it will accommodate bulk drug substance storage, ensuring clients' products are stored under optimal conditions throughout the development and production cycles.

Notably, the facility will include a robust stability program. This program will bolster Scorpius' service offerings by providing in-house stability storage capabilities to foster a smooth transition into onsite testing. Not only does this add a new dimension to the Company's capabilities, but it also introduces an additional revenue stream, further solidifying Scorpius' position in the market.

Jeff Wolf, CEO of Scorpius Holdings, commented, "These new capabilities enable us to offer our clients continuity through their supply chain and meet their needs from process development through drug substance release. This strategic expansion reflects our commitment to excellence and our dedication to supporting our clients’ overall needs."

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 https://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 the new facility featuring specialized storage areas with temperatures maintained between -20°C and -80°C for raw materials, alongside spaces designated for contained sampling and quality control testing; the new facility accommodating bulk drug substance storage, ensuring clients' products are stored under optimal conditions throughout the development and production cycles; the facility including, a robust stability program; the program bolstering the Company’s service offerings by providing in-house stability storage capabilities to foster a smooth transition into onsite testing; the storage capabilities generating an additional revenue stream, and further solidifying the Company’s position in the market; and the new capabilities enabling the Company to offer clients continuity through their supply chain and meet their needs from process development through drug substance release. . Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the new facility to be constructed with the specialized storage areas and accommodate bulk drug substance storage; the ability to derive revenue from the new storage facility and solidify the Company’s position in the market; the ability of the Company to offer clients continuity in their supply chain;; 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, 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.

Media and Investor Relations Contact
David Waldman
[phone]
mailto://[e-mail]

[Paulness]

NEWS -- Scorpius Holdings, Inc. Announces Closing of Public Offering



DURHAM, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX), (“Scorpius” or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced the closing of its underwritten public offering of 60,000,000 common units and/or pre-funded units in lieu thereof. Each common (or pre-funded) unit was offered at a public offering price of $0.10 per unit (inclusive of the pre-funded warrant exercise price) and consists of one share of common stock (or pre-funded warrant to purchase one share of common stock in lieu thereof) and a common warrant, for gross proceeds of $6,000,000, before deducting underwriting discounts and offering expenses. The warrants have an exercise price of $0.12 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 shares of common stock (and/or pre-funded warrants) and/or up to an additional 9,000,000 common warrants solely to cover over-allotments, if any.

The Company intends to use the net proceeds of the offering to fund working capital, general corporate purposes, and the repayment of a $750,000 non-convertible promissory note, plus accrued and unpaid interest.

ThinkEquity acted as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-279092) relating to the shares of common stock, pre-funded warrants, common warrants, and the shares of common stock underlying such warrants was filed with the Securities and Exchange Commission (“SEC”) and became effective on May 13, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Scorpius Holdings, Inc.

Scorpius Holdings Inc. is an integrated large molecule 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 https://www.scorpiusbiologics.com.

Forward-Looking Statements

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 regarding the intended use of proceeds. Important factors that could cause actual results to differ materially from current expectations include, among others, the factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023 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 press release on account of new information, future events, or otherwise, except as required by law.

For Investor Relations Inquiries:

David Waldman
[phone]
mailto://[e-mail]

[Paulness]

NEWS -- Scorpius Holdings Commends Congress on Bipartisan Legislative Action Aimed at Bolstering U.S. Biomanufacturing



Urges Congress to Immediately Pass the BIOSECURE Act

DURHAM, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization providing state-of-the-art large molecule contract development and manufacturing organization (“CDMO”), today applauded on-going legislative efforts within the United States Congress to bolster domestic biomanufacturing in the face of vulnerabilities from America’s adversaries.

The most notable legislative effort is the recent introduction of the BIOSECURE Act, which would mark a significant step forward in strengthening America’s pharmaceutical supply chain and reducing dependency on foreign manufacturers. The BIOSECURE Act is now seeing significant bipartisan momentum in Congress, advancing out of the House Oversight Committee this week, setting the stage for a possible vote and final passage by the end of the year.

Other notable efforts include recent legislative and policy measures that prioritize U.S. Government investment and development for U.S.-based biomanufacturing, as well as the launch of the BioMaP Consortium within the Biomedical Advanced Research and Development Authority, of which Scorpius is a member.

Over the past year, Scorpius has proactively expanded its production facilities, all within the United States, investing heavily in state-of-the-art technologies to support scalable and secure manufacturing processes. This expansion not only enhances the Company's capacity to meet growing demand but also aligns seamlessly with the objectives of the newly proposed legislative measures.

Scorpius continues to support ongoing work on behalf of U.S. Government-backed pharmaceutical programs and recently hosted several visits to its San Antonio facility from U.S. Government representatives in which these efforts were discussed.

Jeff Wolf, CEO of Scorpius, praised the pending Congressional action, but urged its final passage, stating, “We are at a critical juncture in ensuring the health security of our nation. The recent legislative developments, including the BIOSECURE Act, are commendable as they align with our vision of a robust, self-reliant American biomanufacturing infrastructure. We urge Congress to immediately pass the BIOSECURE Act, to ensure that America’s drug supply chain is no-longer beset with vulnerabilities from our nation’s adversaries. We are also closely engaged in the reauthorization of the Pandemic and All-Hazards Preparedness Act, and strongly urge Congress to pass this critical legislation that bolsters preparedness in the face of threats. From cancer treatments to biodefense, it is imperative that we have control over our pharmaceutical supply chain to protect and provide for the American people.”

“Scorpius is committed to working with lawmakers, industry partners, and drug developers to implement the BIOSECURE Act and other initiatives aimed at onshoring drug production. By leveraging our enhanced production capabilities and deep expertise in biomanufacturing, Scorpius stands ready to support the nation’s healthcare needs while fostering American economic growth and innovation,” concluded Mr. Wolf.

Scorpius Holdings, Inc.

Scorpius Holdings Inc. is an integrated CDMO focused on manufacturing biologic and cell therapy programs for our clients. 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 https://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 the BIOSECURE Act marking a significant step forward in strengthening America’s pharmaceutical supply chain and reducing dependency on foreign manufacturers, a possible vote and final passage of the BIOSECURE Act by the end of the year. by the end of the year, continuing to support on-going work on behalf of U.S. Government-backed pharmaceutical programs. Important factors that could cause actual results to differ materially from current expectations include, among others, the passage of the BIOSECURE Act and its impact on the Company, Company’s ability to expand its large molecule biomanufacturing CDMO services, attract new customers, the ability to capture a meaningful market share; 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, 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.

Media and Investor Relations Contact
David Waldman
[phone]
mailto://[e-mail]

[Paulness]

NEWS -- Scorpius Holdings Achieves Major Milestone with cGMP Facility Validation for Microbial Manufacturing
Scorpius Holdings, Inc.



Gaining operating efficiency through transition to an internal environmental monitoring team

DURHAM, N.C., May 15, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX), (“Scorpius” or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced the successful validation of its microbial facilities, marking a significant milestone in the Company's operations. This validation signifies that Scorpius’ microbial cleanrooms are now officially approved to manufacture current Good Manufacturing Practice (cGMP) microbial biologic drugs, underscoring the Company's commitment to quality and regulatory compliance.

Scorpius facilities have already garnered considerable interest, with a backlog of bookings from client programs. This achievement not only demonstrates Scorpius' capability to meet the regulatory and client driven high standards required for contract manufacturing of microbial biologics but also highlights the trust and confidence its clients place in its services.

In conjunction with the facility qualifications, Scorpius is also streamlining its operations by transitioning environmental monitoring responsibilities to internal teams, while it migrates from the previous reliance on third-party services. This shift is expected to allow for greater efficiency, further enhancing the Company's robust ability to deliver high-quality biomanufacturing services.

“Scorpius has experienced strong interest in our microbial capabilities, and we continue to add additional opportunities to our pipeline for 2024 and 2025,” stated Jeff Wolf, CEO of Scorpius Holdings. “This validation confirms our commitment to high-quality, state-of-the-art microbial production. We are dedicated to leveraging our advanced capabilities to support our clients' needs and contributing to the advancement of breakthrough therapies.”

“This validation is a testament to Scorpius’ rigorous quality standards and our dedication to supporting the development and manufacturing of microbial products. With this achievement, Scorpius is poised to further solidify its position as a leader in clinical scale microbial manufacturing, offering our clients unparalleled quality and service,” concluded Wolf.

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 https://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 the transition of environmental monitoring responsibilities from third-parties to internal teams being expected to allow for greater efficiency, further enhancing the Company's robust ability to deliver high-quality biomanufacturing services; continuing to add additional opportunities to the Company’s pipeline for 2024 and 2025; Scorpius being poised to further solidify its position as a leader in clinical scale microbial manufacturing, offering our clients unparalleled quality and service. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to continue to validate its microbial facilities; expand its large molecule biomanufacturing CDMO services and continue to grow revenue; 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 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.

Media and Investor Relations Contact
David Waldman
[phone]
mailto://[e-mail]

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NEWS -- Scorpius Holdings, Inc. Announces Pricing of Public Offering



DURHAM, N.C., May 14, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX), (“Scorpius”, or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced the pricing of its underwritten public offering of 60,000,000 common units and/or pre-funded units in lieu thereof. Each common (or pre-funded) unit is being offered at a public offering price of $0.10 per unit (inclusive of the pre-funded warrant exercise price) and consists of one share of common stock (or pre-funded warrant to purchase one share of common stock in lieu thereof) and a common warrant to purchase one share of common stock. The common warrants will have an exercise price of $0.12 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. The gross proceeds to the Company from the offering are expected to be approximately $6,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 shares of common stock (and/or pre-funded warrants) and/or up to an additional 9,000,000 common warrants solely to cover over-allotments, if any. All of the shares of common stock (and/or pre-funded warrants) and associated common warrants are being offered by the Company. The offering is expected to close on May 16, 2024, subject to satisfaction of customary closing conditions.

The Company intends to use the net proceeds of the offering to fund working capital, general corporate purposes, and the repayment of a $750,000 non-convertible promissory note, plus accrued and unpaid interest.

ThinkEquity is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-279092), as amended, including a preliminary prospectus, relating to the securities being offered was filed with the Securities and Exchange Commission (“SEC”) and became effective on May 13, 2024. This offering is being made only by means of a prospectus. Copies of the preliminary prospectus and final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Scorpius Holdings, Inc.

Scorpius Holdings Inc. is an integrated large molecule 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 https://www.scorpiusbiologics.com.

Forward-Looking Statements

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 regarding the timing and completion of the proposed offering and the intended use of proceeds. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability to complete the proposed offering, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023 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 press release on account of new information, future events, or otherwise, except as required by law.

For Investor Relations Inquiries:

David Waldman
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