PolyPid plans to begin clinical development of its novel lipid-polymer fusion-based drug delivery technology with new through a new financing round.
The financing round – which involved new and existing investors – generated $2m (€1.5m) and is the second time Israel-based PolyPid has sought funds to further develop its ‘drug carrier’ technology in the last two years .
CTO Noam Emanuel said: “The money raised will be used to further invest in research and development, bringing additional products to the market and to conduct a clinical trial that will treat patients with open fractures.”
The patented technology – also named PolyPid – fuses a lipid-based matrix and a non-biodegradable polymer in which one or more active pharmaceutical ingredients (API) can be held. The release of these actives is determined by the specific formulation of the lipid-polymer carrier matrix.
Ploypid claims the formulations can be pre-programmed in order to achieve the desired release rate of the APIs and the optimal duration, which can last up to several months.