Polyrizon Secures $3.5 Million in Funding to Advance Nasal Barrier Technology

Polyrizon Ltd., a pre-clinical-stage biotechnology company, has closed a registered direct offering and concurrent private placement with a single institutional investor, generating approximately $3.5 million in gross proceeds. The company, which trades on NASDAQ under the symbol PLRZ, specializes in developing intranasal protective solutions using hydrogel technology. The funding round included the sale of 388,888 units or pre-funded units at a combined price of $9.00 per unit, consisting of ordinary shares or pre-funded warrants and common warrants, with additional pre-funded and common warrants issued in the private placement.

The company plans to use the proceeds for working capital and general corporate purposes as it advances its proprietary Capture and Contain hydrogel technology. This technology is delivered in the form of nasal sprays and forms a thin hydrogel-based shield containment barrier in the nasal cavity that can provide protection against viruses and allergens from contacting nasal epithelial tissue. Polyrizon refers to this approach as functioning like a ‘biological mask’ that creates a physical barrier at the point of potential infection or allergic reaction.

Polyrizon is further developing certain aspects of its C&C hydrogel technology, including bioadhesion and prolonged retention at the nasal deposition site for intranasal delivery of drugs. The company is also working on an additional technology called Trap and Target, which focuses on nasal delivery of active pharmaceutical ingredients and is in an earlier stage of pre-clinical development. More information about the company’s technology platform is available at https://polyrizon-biotech.com.

The financial transactions were facilitated by Aegis Capital Corp., which acted as exclusive placement agent. The funding comes at a time when interest in nasal protection technologies has increased significantly due to global health concerns. Polyrizon’s approach represents a novel strategy for preventing viral transmission and allergic reactions by creating a physical barrier at the primary entry point for many pathogens and allergens.

The company’s technology has potential applications beyond viral protection, including drug delivery systems that could improve treatment efficacy for various conditions. By creating a sustained presence in the nasal cavity, the hydrogel could enhance the delivery and effectiveness of medications administered through nasal routes. The recent funding will enable Polyrizon to continue its pre-clinical development work and advance its technology toward potential clinical applications.

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