Israeli startup NurExone Biologic has announced that it will pay Israeli nasal delivery specialist Polyrizon a total of up to $3,350,000 for development of an intranasal formulation of NurExone’s ExoTherapy, exosomes loaded with modified siRNA sequences for the treatment of traumatic spinal cord injuries. The formulation will be based on Polyrizon’s Trap and Target intranasal delivery platform.
The deal includes milestone payments such as $220,000 for formulation development and a total of $500,000 for successful completion of a Phase 2 trial, plus royalties on any future sales. NurExone will retain manufacturing and marketing rights to the formulations.
NurExone CEO Lior Shaltiel commented, “We chose to work with Polyrizon, an innovation leader in the field of intranasal products, to develop the unique formulation for our delivery technology. With intranasal administration, exosomes carrying a therapeutic cargo can enter the brain with ease, bypassing the blood-brain barrier. Our studies have shown that intranasal ExoTherapy holds the potential to recover functionality and reduce economic suffering for some of the nearly 50,000 new patients in the United States and Europe who suffer from acute spinal cord injuries each year.”
Read the NurExone press release.
