Polyrizon Ltd., a development-stage biotech company, has successfully closed a private placement offering, raising approximately $17 million through the sale of ordinary shares and investor warrants. The financing, priced at $0.48 per ordinary unit, will provide the company with additional resources to advance its proprietary nasal hydrogel technology.
The company's primary focus is developing innovative medical device hydrogels delivered via nasal sprays. Its Capture and Contain (C&C) technology creates a thin hydrogel-based shield in the nasal cavity, potentially blocking viruses and allergens from contacting nasal epithelial tissue. This approach could offer a novel method of protection against respiratory pathogens.
Beyond its initial protective applications, Polyrizon is also exploring advanced uses for its hydrogel technology. The company is developing methods to enhance bioadhesion and prolonged retention at nasal deposition sites, which could improve intranasal drug delivery mechanisms. Its emerging Trap and Target (T&T) technology focuses on nasal delivery of active pharmaceutical ingredients.
The private placement, exclusively managed by Aegis Capital Corp., represents a significant milestone for Polyrizon. The funds will be used for general corporate purposes and working capital, supporting the company's continued research and development efforts in a potentially transformative area of medical technology.
