Polyrizon Secures $17 Million in Private Placement to Advance Nasal Hydrogel Technology

Biotech company Polyrizon Ltd. has completed a private placement, securing approximately $17 million in gross proceeds to support its ongoing research and development efforts in intranasal hydrogel technologies. The funding, raised through the sale of ordinary shares and investor warrants at $0.48 per unit, will provide the company with essential resources for general corporate purposes and working capital.

The company's primary focus is developing advanced medical device hydrogels delivered via nasal sprays. Polyrizon's proprietary Capture and Contain (C&C) hydrogel technology aims to create a thin, protective barrier in the nasal cavity that could potentially block viruses and allergens from contacting nasal epithelial tissue.

Aegis Capital Corp. served as the exclusive placement agent for the private placement, with legal counsel provided by Greenberg Traurig, P.A. for Polyrizon and Kaufman & Canoles, P.C. for Aegis. The successful funding round represents a significant milestone for the development-stage biotech company.

Beyond its current C&C technology, Polyrizon is also exploring additional applications, including the Trap and Target (T&T) technology. This early-stage pre-clinical research focuses on nasal delivery of active pharmaceutical ingredients, potentially opening new avenues for drug administration and therapeutic interventions.

The substantial investment signals investor confidence in Polyrizon's innovative approach to nasal health technologies. By developing hydrogel-based solutions that function as a potential 'biological mask', the company is addressing critical needs in virus prevention and allergen protection.

With this new funding, Polyrizon is well-positioned to continue advancing its research, refine its hydrogel technologies, and potentially bring groundbreaking nasal health solutions closer to market implementation.