There are three critical milestones related to the reintroduction of intravenous fenretinide, each of which defines the basis for a new valuation of the company. The first milestone is the completion of preclinical safety studies and receipt of IND approval from the FDA to test the intravenous product in humans. The second is the completion of a Phase I clinical study in humans that addresses clinical pharmacology and toxicity issues and validates the initial potential of the drug. The last and most critical milestone is the confirmation of clinical efficacy collected during focused Phase II clinical trials in disease already shown to be clinically responsive to suboptimal administration of fenretinide during past trials of the oral formulation. At each point along this continuum, the value of the company increases exponentially.
SciTech is seeking the $6,500,000 in funding required to complete all preclinical activity necessary to receiving an FDA IND approval for its reintroduction of fenretinide into humans as well as to fund the execution of the initial Phase I & II clinical trials.  We are presently seeking angel funding of the first $2,250,000 to cover the completion of the preclinical activity.