Polyrizon Signs Non–Binding LOI to Expand its Innovative Intranasal Drug Delivery Platform for Psychedelic-Based Treatments

Polyrizon Ltd. recently announced it has signed a non-binding Letter of Intent (LOI) with a biotech company focused on psychedelic-derived therapeutics (“the psychedelic company”), to develop a novel intranasal formulation for psychedelic-based treatment applications.

This agreement aims to leverage Polyrizon’s proprietary platform to optimize the delivery of innovative psychedelic treatments for therapeutic use. This collaboration emphasizes the growing potential of intranasal drug delivery in the psychedelic medicine space, offering an innovative approach to enhancing bioavailability, efficacy, and patient accessibility. If successful, this collaboration has the potential to pave the way for further clinical development and commercialization.

“Our proprietary intranasal platform has the potential to enhance drug delivery bioavailability. We believe that intranasal delivery has the potential to improve patient outcomes by providing a prolonged drugs residence time and more efficient alternative to traditional administration methods,” said Tomer Izraeli CEO of Polyrizon.

According to the non-binding LOI, Polyrizon will lead the formulation’s development, utilizing its mucoadhesive drug delivery technology to enhance the absorption and effectiveness of the psychedelic company’s treatment. The psychedelic company will fund the research and development process, including feasibility studies, ensuring the project progresses efficiently toward clinical validation. Pursuing a successful outcome the two companies intend to negotiate a definitive agreement following proof of concept, outlining intellectual property ownership, commercialization rights, and financial terms. Polyrizon will receive royalty payments for any future commercialization of the product by the psychedelic company.

About Polyrizon

Polyrizon is a development stage biotech company specializing in the development of innovative medical device hydrogels delivered in the form of nasal sprays, which form a thin hydrogel-based shield containment barrier in the nasal cavity that can provide a barrier against viruses and allergens from contacting the nasal epithelial tissue. Polyrizon’s proprietary Capture and Contain ^TM, or C&C, hydrogel technology, comprised of a mixture of naturally occurring building blocks, is delivered in the form of nasal sprays, and potentially functions as a “biological mask” with a thin shield containment barrier in the nasal cavity. Polyrizon are further developing certain aspects of our C&C hydrogel technology such as the bioadhesion and prolonged retention at the nasal deposition site for intranasal delivery of drugs. Polyrizon refers to its additional technology, which is in an earlier stage of pre-clinical development, that is focused on nasal delivery of active pharmaceutical ingredients, or APIs, as Trap and Target ™, or T&T. For more information, please visit https://polyrizon-biotech.com.