Core Viewpoint - PolyPid Ltd. has secured additional funding of $26.7 million through the exercise of warrants, extending its financial runway beyond the anticipated FDA approval of its lead product candidate, D-PLEX₁₀₀ [1][4]. Funding Details - The funding was obtained through new agreements with existing warrant holders for the immediate exercise of warrants to purchase up to 7,626,514 ordinary shares at a price of $3.50 per share [2]. - In exchange for the immediate cash exercise of the warrants, PolyPid will issue new unregistered warrants for the purchase of an equal number of ordinary shares at an exercise price of $4.50 per share, valid for two years [3]. Use of Proceeds - The net proceeds from this funding will be utilized for new drug application (NDA) submission, launch preparations, working capital, and general corporate purposes [4]. Product Information - D-PLEX₁₀₀ is designed to provide prolonged and controlled antibacterial activity at surgical sites to prevent surgical site infections (SSIs) and has received Breakthrough Therapy designation from the FDA [7]. - The product demonstrated a statistically significant reduction in SSIs in the Phase 3 SHIELD II trial, meeting all primary and key secondary endpoints [8][9].
PolyPid Secures $26.7 Million Through Warrant Exercise Following Successful SHIELD II Phase 3 Trial Results