Polyrizon Secures $3.5 Million in Funding to Advance Intranasal Protective Technology

Polyrizon Ltd. (NASDAQ: PLRZ), 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 transactions involved 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. Aegis Capital Corp. served as exclusive placement agent for the offering.

The company plans to use the proceeds for working capital and general corporate purposes as it advances its innovative medical device hydrogels delivered in the form of nasal sprays. Polyrizon's technology 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. The company's proprietary Capture and Contain TM, or C&C, hydrogel technology is comprised of a mixture of naturally occurring building blocks and potentially functions as a "biological mask" with a thin shield containment barrier in the nasal cavity.

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 refers to its additional technology, which is in an earlier stage of pre-clinical development, as Trap and Target(TM), or T&T, focused on nasal delivery of active pharmaceutical ingredients, or APIs. This funding announcement comes as the company continues to develop its innovative approaches to nasal protection and drug delivery.

For more information about Polyrizon's technology and development programs, visit https://polyrizon-biotech.com. The company's approach represents a novel method for creating protective barriers within the nasal cavity, which serves as a primary entry point for many respiratory pathogens and allergens. The successful completion of this $3.5 million financing round provides Polyrizon with additional resources to advance its research and development efforts in this specialized area of biotechnology.