PolyPid Secures $50 Million Series E-1 Financing to Advance D-PLEX100 into Pivotal Phase 3 Trials

On September 5, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biopharmaceutical company PolyPid announced the completion of a $50 million Series E-1 financing round. The round was led by existing institutional investors, including high-net-worth individuals in the United States, with National Securities Corporation serving as the placement agent for this financing.

PolyPid intends to use the funds from this round of financing to advance the clinical development of its flagship product, D-PLEX 100, into Phase III of two pivotal registration trials.

Amir Weisberg, CEO of PolyPid, stated: “We are delighted to welcome this new consortium of U.S. investors. They share our passion, commitment, and vision for bringing D-PLEX100 to surgical patients worldwide.”With this funding,we can further promoteD-PLEX 100Moving Toward Commercialization, and continue to develop our remaining local treatment channels.”

PolyPid, founded in 2008 and headquartered in Israel, is a privately held development-stage company. The company has developed a platform technology for the healthcare industry that enables controlled and prolonged release of any active pharmaceutical ingredient (API). PolyPid is dedicated to developing and commercializing novel local delivery therapies using its proprietary PLEX (Polymer-Lipid Encapsulation matriX) technology to treat various localized conditions, with an initial focus on the management of surgical site infections. Products developed based on the PLEX technology have demonstrated excellent efficacy and safety in clinical trials. To date, more than 200 patients have been enrolled in these clinical trials. Dr. Noam Emanuel, Founder and Chief Scientific Officer of PolyPid, is the inventor of the PLEX technology.

PolyPid’s lead candidate, D-PLEX100, is a novel drug formulation designed to provide localized and sustained antimicrobial activity to prevent surgical site infections. Following application of D-PLEX100 to the surgical site, the D-PLEX technology enables continuous, long-term release of broad-spectrum antibiotics, maintaining high local concentrations for up to four weeks. Through this mechanism, D-PLEX100 has demonstrated efficacy in preventing surgical site infections, including those caused by antibiotic-resistant bacteria. The U.S. FDA has granted D-PLEX100 Fast Track designation and Qualified Infectious Disease Product (QIDP) status for the prevention of sternal wound infections following cardiac surgery and incisional infections following abdominal surgery.

(Compiled by Tian Shuhang)