Intranasal hydrogel maker Polyrizon announced that it has closed a $4.2 million IPO, with a possibility of the total rising to $4.82 million if Aegis Capital exercises an option to purchase additional shares. Polyrizon said that funds from the IPO will be used for development of its hydrogel products for nasal drug delivery, called Capture and Contain (C&C), a “biological mask” product, and Trap and Target (T&T), an excipient designed to increase mucosal adhesion of nasal sprays.
Earlier this year, SciSparc announced that it had licensed its SCI-160 combination of cannabinoids and N- acylethanolamines for the treatment of pain to Polyrizon. SciSparc partnered with Polyrizon in May 2022 on development of SCI-160 using Trap and Target. In July 2022, NurExone announced that it was working with Polyrizon to develop a nasal formulation of its modified siRNA exosomes using the Trap and Target technology.
Read the Polyrizon press release.
