SCIENTURE Announces Executive Leadership Transition

Rhea-AI Summary

SCIENTURE (NASDAQ: SCNX) announced a significant leadership transition as CEO and Chairman Suren Ajjarapu steps down, with his roles being assumed by Dr. Shankar Hariharan as Executive Chairman and Co-CEO, and Dr. Narasimhan Mani as President and Co-CEO. Under Ajjarapu's leadership, the company achieved notable milestones, including the 2024 sale of its web-based market platform to Micro Merchant Systems and completing a reverse merger with Scienture Inc. The new leadership brings extensive pharmaceutical experience, with Dr. Hariharan's 35-year track record in drug development and Dr. Mani's 25 years in commercial operations. Both executives have experience with the company's FDA-approved assets (Arbli and Rezenopy) and have previously served in key roles at Scienture LLC, a wholly owned subsidiary.

Positive

• New leadership brings extensive pharmaceutical industry experience (35+ years for Dr. Hariharan, 25+ years for Dr. Mani)
• Both new leaders have direct experience with company's FDA-approved assets
• Smooth transition with Ajjarapu remaining as board advisor ensures continuity
• New leadership has proven track record in drug development and commercial launches of successful pharmaceutical products

Negative

• Loss of long-term CEO who led significant company transformation
• Potential uncertainty during leadership transition period
• Split CEO role between two executives could lead to strategic misalignment

TAMPA, FL, May 22, 2025 (GLOBE NEWSWIRE) -- SCIENTURE HOLDINGS, INC. (NASDAQ: SCNX) (the “Company”), a holding company for existing and planned pharmaceutical operating companies focused on providing enhanced value to patients, physicians and caregivers through developing, bringing to market, and distributing novel specialty products to satisfy unmet market needs, today announced that Suren Ajjarapu, who has served as Chief Executive Officer (CEO) and Chairman of the Board of Directors (BOD), has stepped down from his roles with the Company, with those positions being assumed by the existing, experienced management team of Dr. Shankar Hariharan and Dr. Narasimhan Mani.

Shankar Hariharan, Ph.D - Executive Chairman of the BOD and Co-CEO

Narasimhan Mani, Ph.D., MBA – President and Co-CEO; Member of the BOD

Suren’s departure comes after several years of dedicated service to the Company, during which he led the Company through significant growth and transformation. Under his leadership, Scienture (f/k/a TRxade Health Inc.) achieved significant milestones in establishing the healthcare IT based market platforms and wholesale distribution operations. In 2024, he led the sale of the Company’s web based market platform to Micro Merchant Systems, Inc. and the completion of the reverse merger with Scienture Inc. to reposition the Company into the value added Specialty Pharmaceutical product development and commercialization space.

“This transition marks the next chapter for Scienture and I’m proud of what we’ve built over the years at the company,” said Suren Ajjarapu. “It has been an honor to lead this exceptional team, and I’m confident that the leadership of Dr. Shankar Hariharan and Dr. Narasimhan Mani will propel the company forward.”

The transition has been carefully planned to ensure continuity and strategic alignment. Dr. Hariharan and Dr. Mani both have extensive experience with the Company’s primary FDA-approved assets (Arbli and Rezenopy), as well as decades of experience in the clinical development and commercialization of pharmaceuticals. Suren Ajjarapu will remain engaged as an advisor to the Company’s board of directors.

“I am excited to take up this new role and want to thank Suren for all his contributions,” remarked Shankar Hariharan. “I look forward to lead the Company in its next phase to drive long term value creation by focusing on strong science, operational agility, and delivering value to patients and the healthcare system.”

“This is a pivotal moment for the Company and I look forward to building a strong organization that is focused on bringing to market novel therapies that provide transformative patient outcomes and delivering shareholder value,” said Narasimhan Mani. “

Shankar Hariharan was the President and CEO of Scienture Inc., prior to its merger with the Company in July 2024. He has over 35 years of experience in the pharmaceutical industry in discovery, development, clinical and regulatory operations and was involved with the development and launch of notable brand products such as Celexa^®, Lexapro^®, Namenda^® and Megace ES^®. His past experiences include leadership, executive management and board positions in several branded and specialty pharmaceutical companies. Prior to the transition to his new role, he served on the board of directors and as CEO of Scienture, LLC, which is a wholly owned subsidiary of the Company. He will continue to serve in that capacity as well.

Narasimhan Mani is an experienced healthcare professional with over 25 years of experience in the pharmaceutical industry. He has held Executive Leadership and Board positions with oversight of Commercial Operations, Portfolio Strategy, Business Development, Corporate Finance and P&L management, at small and large specialty and branded pharmaceutical companies. He has led various product development initiatives and commercial launches of well known products such as Ritalin^®, Morphelan^®, Namenda XR^® , and Nucynta ER^®. Prior to transitioning to his new role, he served as the President of Scienture, LLC, which is a wholly owned subsidiary of the Company. He will continue to serve in thay capacity as well.

About Scienture Holdings, Inc.

SCIENTURE HOLDINGS, INC. (NASDAQ: “SCNX”), through its wholly owned subsidiary, Scienture, LLC is a comprehensive pharmaceutical product company focused on providing enhanced value to patients, physicians and caregivers by offering novel specialty products to satisfy unmet market needs. Scienture, LLC is a branded, specialty pharmaceutical company consisting of a highly experienced team of industry professionals who are passionate about developing and bringing to market unique specialty products that provide enhanced value to patients and healthcare systems. The assets in development at Scienture, LLC are across therapeutics areas, indications and cater to different market segments and channels. For more information please visit www.scienture.com.

Cautionary Statements Regarding Forward-Looking Statements

This press release contains certain statements that may be deemed to be “forward-looking statements” within the federal securities laws, including the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Statements that are not historical are 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. Forward-looking statements relate to future events or our future performance or future financial condition. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our company, our industry, our beliefs and our assumptions. Such forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including for the products we may launch and the success those products may have in the marketplace. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” or the negative of these terms or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to a number of risks and uncertainties (some of which are beyond our control) that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. These risks include risks relating to agreements with third parties; our ability to raise funding in the future, as needed, and the terms of such funding, including potential dilution caused thereby; our ability to continue as a going concern; security interests under certain of our credit arrangements; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; claims relating to alleged violations of intellectual property rights of others; the outcome of any current legal proceedings or future legal proceedings that may be instituted against us; unanticipated difficulties or expenditures relating to our business plan; and those risks detailed in our most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.

Forward-looking statements speak only as of the date they are made. Scienture Holdings, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law.

Contact:

SCIENTURE HOLDINGS, INC.
6308 Benjamin Rd, Suite 708
Tampa, Florida 33634
Phone: (866) 468-6535
Email: IR@Scienture.com

FAQ

Why did SCNX CEO Suren Ajjarapu step down?

The press release indicates this is a planned transition for the company's next phase, following Ajjarapu's successful leadership through significant growth, including the 2024 sale of the web-based market platform and completion of a reverse merger with Scienture Inc.

Who are the new leaders of Scienture (SCNX)?

Dr. Shankar Hariharan has been appointed as Executive Chairman and Co-CEO, while Dr. Narasimhan Mani serves as President and Co-CEO. Both are experienced pharmaceutical executives with decades of industry experience.

What experience do SCNX's new leaders bring to the company?

Dr. Hariharan brings 35+ years of pharmaceutical experience in drug development and launches (including Celexa, Lexapro, Namenda). Dr. Mani has 25+ years of experience in commercial operations and has led launches of products like Ritalin, Namenda XR, and Nucynta ER.

Will former SCNX CEO Suren Ajjarapu remain with the company?

Yes, Suren Ajjarapu will remain engaged with Scienture as an advisor to the company's board of directors.

What are Scienture's (SCNX) main FDA-approved products?

According to the press release, Scienture's primary FDA-approved assets are Arbli and Rezenopy, which both new leaders have extensive experience with.