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

Polyrizon Ltd., a development-stage biotechnology company, has successfully completed a private placement raising approximately $17 million to advance its innovative intranasal hydrogel technology. The funding, secured through the sale of ordinary shares and investor warrants at $0.48 per unit, will support the company's ongoing research and development efforts.

The biotech firm specializes in developing medical device hydrogels delivered via nasal sprays, with a unique technology platform called Capture and Contain (C&C). This proprietary hydrogel technology creates a thin protective barrier 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 counsel provided by Greenberg Traurig, P.A. for Polyrizon and Kaufman & Canoles, P.C. for Aegis. The company intends to use the net proceeds, along with existing cash reserves, for general corporate purposes and working capital.

Beyond its primary C&C technology, Polyrizon is also developing a complementary platform called Trap and Target (T&T), which focuses on nasal delivery of active pharmaceutical ingredients. This multi-pronged approach positions the company at the forefront of innovative intranasal drug delivery and protective technologies.

The successful private placement represents a significant milestone for Polyrizon, providing crucial funding to continue advancing its research and potentially bringing groundbreaking nasal health technologies to market. For healthcare professionals and investors, this development signals continued innovation in protective medical technologies and potential new approaches to preventing viral transmission and managing respiratory health.