Medigus: Polyrizon Signed an Agreement with Nurexone for Intranasal Administration of Cutting - Edge Therapy for Spinal Cord Injuries
July 18 2022 - 08:00AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced today that
Polyrizon Ltd. ("Polyrizon"), an Israeli biotech company that
specializes in innovative intranasal products in which Medigus owns
37.03%, signed a binding Collaboration Agreement with NurExone
Biologic Inc. (TSXV: NRX), a biopharmaceutical company developing
biologically-guided exosome therapy for patients with traumatic
spinal cord injuries ("NurExone").
Under the Collaboration Agreement, Polyrizon
will use its advanced Trap and Target™ platform to develop
formulations, conduct analytical development and produce technical
batches of a tailored intranasal delivery system. The intranasal
system is being designed for efficient delivery of Nurexone’s
ExoTherapy to patients with traumatic spinal cord injuries (SCI)
and may also be relevant to other indications through intranasal
exosome delivery.
NurExone develops unique and proprietary
exosomes (a nano scale extracellular vesicle) as
biologically-guided nanocarriers, called ExoTherapy, to deliver
specialized molecules to targeted areas. The delivered molecules
promote an environment that induces a healing process at the target
location. For SCI, NurExone will use modified siRNA sequences as
the delivered therapeutic molecules.
Under the Collaboration Agreement, NurExone will
cover the costs of the formulation development in an estimated
amount of USD 220,000 in 3 installments upon development success
and expects to be able to perform a biological efficacy study of
the intranasal system within 3 quarters.
NurExone shall pay development fees to Polyrizon
of up to a total of $3,350,000 upon completion of certain
milestones, including the payment of an aggregate of US $500,000
upon successful completion of a Phase 2 clinical trial. Moreover,
NurExone shall pay royalties based on any product sales resulting
from the Collaboration Agreement. In advance stages of the
collaboration, Polyrizon may assist NurExone with regulatory
submissions for the United States and Europe.
Manufacturing and marketing rights for
formulations under the Collaboration Agreement are exclusive to
NurExone.
About MedigusBased in Israel, Medigus Ltd.
(Nasdaq: MDGS) is a technology company focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce and electric vehicle markets. Medigus' affiliations in the
medical solutions arena include ownership in Polyrizon Ltd. and
ownership in industry 4.0 company, ScoutCam Inc. The Company’s
affiliates in digital commerce include Gix Internet Ltd., Jeffs'
Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle
market, Charging Robotics Ltd. and Revoltz Ltd. are also part of
the Company’s portfolio of technology solution providers.
To learn more about Medigus’ advanced
technologies, please visit http://www.medigus.com/.
About PolyrizonPolyrizon Ltd.
is a clinical development stage biotech company focused on the
development and commercialization of innovative intranasal
products. The company’s products pipeline candidates are based on
two technology platforms. The Capture and Contain™ (C&C™)
platform, consist of mucoadhesive polymers mixture optimized to
capture and contain biological assaults. The system provides the
protection via an innovative 3-dimensional polymeric network,
tailored to coat the inner nose surfaces, to create a physical
barrier against these micro-particles and may prevent the thousands
of airborne microorganisms and allergens to affect the respiratory
system. The Trap and Target™ (T&T™) drug delivery platform,
optimized to create a long residence time and an intimate contact
with the mucosal tissue of the nose for an effective nasal drug
administration with a rapid drug absorption coupled with a quick
onset and avoidance of first-pass metabolism. Both C&C and
T&T platform technologies have the potential to improve the
quality of life for people and to improve patient outcomes by
enabling customizable, preventative, and therapeutic solutions.
About NurExone Biologic
Inc.NurExone Biologic Inc. is a TSXV listed pharmaceutical
company that is developing a platform for biologically-guided
ExoTherapy to be delivered, non-invasively, to patients who
suffered traumatic spinal cord injuries. ExoTherapy was
conceptually demonstrated in animal studies at the Technion, Israel
Institute of Technology. Nurexone is translating the treatment to
humans, and the company holds an exclusive worldwide license from
the Technion for development and commercialization of the
technology
Forward-Looking Statements
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statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
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future events and are based on Medigus’ current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements of Medigus could differ materially from
those described in or implied by the statements in this press
release.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
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obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
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Company Contact: Tali DinarChief
Financial Officer+972-8-6466-880ir@medigus.com
Investor Relations Contact:Dave GentryRedChip
Companies Inc.1-800-RED-CHIP (733-2447)Or
407-491-4498MDGS@redchip.com
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