Societal CDMO Selected by Spinnaker Biosciences to Provide CDMO Services to Support Clinical Development of Novel Therapeutic Candidate

Activities will be Conducted at Societal CDMO’s San Diego Facility and Span Analytic Method Transfer, Process Development, and CGMP Manufacturing

SAN DIEGO and GAINESVILLE, Ga., July 10, 2023 (GLOBE NEWSWIRE) — Societal CDMO, Inc. (“Societal CDMO”; Nasdaq: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today announced that it has been selected by Spinnaker Biosciences, Inc., to execute CDMO services in support of the company’s clinical development of a novel therapeutic candidate. The activities to be conducted under the agreement include analytical method transfer and qualification, aseptic process development, manufacture of a prototype batch of the therapeutic, cGMP filling of the resultant sterile powder into vials, and stability testing of the therapeutic candidate to be used in a planned Phase 1/2 study.

“Our new agreement with Spinnaker is an exciting opportunity for the Societal CDMO team to showcase its range of expertise across a number of offerings designed to support innovative drug developers as they work to advance novel therapeutic candidates into the clinic. We are well suited to carry out this work which involves several complexities, including aseptic filling of the final product,” said David Enloe, chief executive officer of Societal CDMO. “We are excited to add Spinnaker to our growing list of customers and pleased that the company has entrusted us to carry out these important aseptic process development and manufacturing activities on its behalf.”

About Societal CDMO
Societal CDMO (NASDAQ: SCTL) is a bi-coastal contract development and manufacturing organization (CDMO) with capabilities spanning pre-Investigational New Drug (IND) development to commercial manufacturing and packaging for a wide range of therapeutic dosage forms with a primary focus in the area of small molecules. With an expertise in solving complex manufacturing problems, Societal CDMO is a leading CDMO providing therapeutic development, end-to-end regulatory support, clinical and commercial manufacturing, aseptic fill/finish, lyophilization, packaging and logistics services to the global pharmaceutical market.

In addition to our experience in handling DEA controlled substances and developing and manufacturing modified-release dosage forms, Societal CDMO has the expertise to deliver on our clients’ pharmaceutical development and manufacturing projects, regardless of complexity level. We do all of this in our best-in-class facilities, which total 145,000 square feet, in Gainesville, Georgia and San Diego, California.

Societal CDMO: Bringing Science to Society. For more information about Societal CDMO’s customer solutions, visit societalcdmo.com.

About Spinnaker Biosciences
Spinnaker Biosciences is focused on the development of proprietary technology for sustained/controlled release drug delivery using non-toxic, biocompatible, and biodegradable nanoporous silicon based microparticles and nanoparticles. Spinnaker’s lead programs include a long-acting sustained release ranibizumab drug product for the treatment of neovascular age-related macular degeneration. For more information, please visit www.spinnakerbiosciences.com.

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, among other things, the Company’s expectations regarding the completion of the proposed public offering, the Company’s use of proceeds from the proposed offering, and other statements. The words “anticipate”, “believe”, “could”, “estimate”, “upcoming”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will” and similar terms and phrases may be used to identify forward-looking statements in this press release. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Factors that could cause the company’s actual outcomes to differ materially from those expressed in or underlying these forward-looking statements include risks and uncertainties associated with demand for the company’s services, which depends in part on customers’ research and development and the clinical plans and market success of their products; customers’ changing inventory requirements and manufacturing plans; customers and prospective customers decisions to move forward with the company’s manufacturing services; the average profitability, or mix, of the products the company manufactures; the company’s ability to enhance existing or introduce new services in a timely manner; fluctuations in the costs, availability, and suitability of the components of the products the company manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials, or the company’s customers facing increasing or new competition. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results presented herein along with those risks and uncertainties discussed in our filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.

CONTACT: Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com

Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com

Ryan D. Lake (CFO)
Societal CDMO
770-531-8365
ryan.lake@societalcdmo.com