Polypid, a developer of products for the local release of drugs, raised $2.4 million in a third funding round

Polylipid's technological platform is a family of drug carriers based on a combination of polymers and fatty molecules (lipids).

Petach Tikva PolyPid Ltd., which develops products for the local release of drugs in the body (drug carriers), announced the raising of 2.4 million dollars in a third round of raising. The investment was raised from existing and new investors. The value of the company after the money - about 17.4 million dollars.

Polylipid's technological platform is a family of drug carriers based on a combination of polymers and fatty molecules (lipids). The platform makes it possible to determine in advance the rate of release of the drugs in the body, and the optimal duration of time, which can last up to several months. The revolutionary platform, protected by a series of patents, can be adapted to a wide variety of drugs: small molecules, peptides, proteins and even drugs based on nucleic acids (DNA and RNA).

The first product based on the polypid platform is BonyPid™, designed to address serious infections caused during the restoration process of open fractures originating from energetic injuries such as car accidents, falls from a height, or combat injuries. These open fractures can cause prolonged suffering, severe functional impairment, limb amputations and even death. In addition to the suffering, there was also a huge financial loss to the health systems due to the prolonged hospitalization and the delay in rehabilitation as a result of the high incidence of infections. The BonyPid™ product is based on synthetic particles that are currently used for bone restoration, coated with a unique layer based on a lipid platform. After the implantation, the coating releases at a planned rate and for an extended period of time antibiotic drugs in a low and precise dose directly to the damaged bone environment. As a result, the product works to eliminate the sources of infection and supports the restoration of the damaged bone, while maintaining an extremely high safety profile.

"The initial clinical results in the BonyPid trial, in severe cases of crushed and contaminated fractures in open fractures, clearly demonstrate the product's ability to bring about rapid restoration of the bone and the damaged organ. This ability stems from the possibility of implanting the product immediately during the first surgery, thereby curbing the infection and allowing rapid rehabilitation, especially in cases of serious injuries," said Dr. Noam Emanuel, the chief technological director of Polipid.

"The fundraising and the company's high value, almost twice the value after the previous fundraising, are evidence of the enormous potential of Polyfeed technology and its products" said Amir Weisberg, CEO of Polyfeed. "This potential is supported by positive initial findings of the first clinical trial in humans, in which the BonyPid product was tested. The money raised will be used to continue investments in research and development and to continue clinical trials."

Polypid's board of directors and advisory committee includes key people in the local and international world of pharmaceuticals and medicine, including Dr. Yipit Shterek, vice president at Teva, Professor Yehezkel Bernholtz, Professor David Segal and Professor Ramon Gustillo, who is one of the world's most prominent opinion leaders in the field of orthopedics.