Polyrizon Ltd., a development-stage biotech company, has successfully closed a private placement transaction, raising approximately $17 million through the sale of ordinary shares and investor warrants. The offering, priced at $0.48 per ordinary unit, will provide critical funding for the company’s ongoing research and development initiatives.
The biotech firm specializes in developing innovative medical device hydrogels delivered through nasal sprays. Its proprietary Capture and Contain (C&C) hydrogel technology creates a thin protective shield in the nasal cavity, potentially blocking viruses and allergens from contacting nasal epithelial tissue.
Aegis Capital Corp. served as the exclusive placement agent for the private placement, with legal representation provided by Greenberg Traurig, P.A. for Polyrizon and Kaufman & Canoles, P.C. for Aegis.
Beyond its primary C&C technology, Polyrizon is exploring additional technological developments, including the Trap and Target (T&T) platform, which focuses on nasal delivery of active pharmaceutical ingredients. The company aims to leverage the new funding to advance these pre-clinical research efforts and support general corporate operations.
The successful private placement underscores growing interest in innovative medical technologies that offer novel approaches to disease prevention and pharmaceutical delivery. Polyrizon’s hydrogel technology represents a potential breakthrough in creating physical barriers against respiratory pathogens and exploring new methods of drug administration.
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