PolyPid Ltd., a Petah Tikva, Israel-based clinical-stage biopharmaceutical company focused on developing and commercializing novel, locally administered therapies, closed a $50M Series E-1 financing round.
The round was led by existing institutional shareholders and included US-based high-net worth investors.
The company intends to use the funds to advance the clinical development of its lead product D-PLEX100 into two phase 3 pivotal registration trials.
Led by Amir Weisberg, CEO, PolyPid is a clinical stage biopharmaceutical company focused on developing and commercializing novel, locally administered therapies using its PLEX (Polymer-Lipid Encapsulation Matrix) technology to treat a wide variety of localized medical conditions with an initial focus on the management of surgical site infections.
Its lead drug product candidate, D-PLEX100, is a novel pharmaceutical agent designed to provide local and prolonged anti-bacterial activity to prevent surgical site infections. Following the administration of D-PLEX100 into the surgical site, the technology enables the constant and prolonged release of a broad-spectrum antibiotic, generating high local concentrations for up to four weeks. Through this mechanism, it has demonstrated the ability to effectively prevent surgical site infection including those caused by antibiotic resistant bacteria. D-PLEX100 has received Fast Track status and two Qualified Infectious Disease Product (QIDP) designations from the FDA for the prevention of sternal wound infection post cardiac surgery and for the prevention of post-abdominal surgery incisional infection.
The company’s technology and products are based on the inventions of Dr. Noam Emanuel, the Founder and the Chief Scientific Officer of the company.