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RAANANA, Israel - Polyrizon Ltd. (NASDAQ:PLRZ), a development-stage biotech company with a market capitalization of $2.85 million, announced today its collaboration with an unnamed biotech company specializing in psychedelic-derived therapeutics. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 10.16, indicating robust short-term financial stability. The partnership, formalized through a non-binding Letter of Intent (LOI), is set to develop an intranasal formulation for psychedelic-based treatments, utilizing Polyrizon’s proprietary hydrogel technology.
The collaboration intends to optimize intranasal drug delivery, a method gaining traction for its potential to increase bioavailability and improve patient outcomes compared to traditional administration methods. Polyrizon’s CEO, Tomer Izraeli, noted that their intranasal platform could offer prolonged drug residence time and more efficient drug absorption.
Under the LOI, Polyrizon will spearhead the development of the formulation, applying its mucoadhesive drug delivery technology to boost the absorption and effectiveness of the psychedelic company’s treatments. The partner company will finance the research and development process, including feasibility studies aimed at advancing the project towards clinical validation.
Should the proof of concept be successful, the two companies plan to negotiate a definitive agreement, which will detail intellectual property ownership, commercialization rights, and financial terms. Polyrizon is set to receive royalty payments from any future commercialization efforts by the psychedelic company.
Polyrizon specializes in creating medical device hydrogels for nasal sprays, forming a barrier in the nasal cavity against viruses and allergens. Their Capture and Contain™ (C&C) hydrogel technology, along with the Trap and Target™ (T&T) technology for nasal delivery of active pharmaceutical ingredients (APIs), are central to their product development.
The press release also contains forward-looking statements, cautioning that actual results may differ from current expectations. It mentions the inherent uncertainties in such projections and the various risks that could affect the company’s performance. These statements are based on management’s beliefs and projections at the time of the press release and may be subject to change. Recent market data from InvestingPro shows the stock trading near its 52-week low of $0.67, with a significant decline of 17.58% in the past week. InvestingPro subscribers have access to 8 additional key insights about PLRZ’s financial health and market performance.
This partnership highlights the innovative approaches being explored in the realm of psychedelic medicine, particularly in the enhancement of drug delivery systems. The information in this article is based on a press release statement from Polyrizon Ltd. For comprehensive analysis and real-time updates on PLRZ’s financial metrics and market performance, visit InvestingPro.
In other recent news, Polyrizon Ltd. has made strides in its preclinical studies for an intranasal form of Naloxone, a critical medication for reversing opioid overdoses. Conducted in collaboration with Professor Fabio Sonvico from the University of Parma, these studies focus on evaluating drug loading, release kinetics, and stability through Polyrizon’s Trap and Target™ platform. This development is particularly relevant given the global Naloxone market’s projected growth to $2.47 billion by 2032, with the intranasal spray segment expected to reach $1.4 billion by 2030. Additionally, Polyrizon has filed a divisional patent application in Israel for its T&T platform technology, aiming to enhance drug delivery efficacy by increasing residence time and contact with mucosal tissues. This filing complements a recent U.S. patent application covering its core technologies, including the Capture and Contain™ platform, which provides a barrier against airborne threats. CEO Tomer Izraeli has expressed that the T&T platform could potentially transform intranasal drug delivery, offering improved efficacy and safety for various medications. These developments underscore Polyrizon’s ongoing commitment to advancing its technology and securing intellectual property. The company continues to focus on enhancing the bioavailability of active pharmaceutical ingredients through its innovative platforms.
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