Polyrizon Ltd. (NASDAQ: PLRZ) saw its shares add strength Friday. The Israeli-based pre-clinical-stage biotechnology company developing intranasal protective solutions, today announced that it has entered into a development agreement with Clearmind Medicine Inc. (NASDAQ: CMND), a clinical stage biopharmaceutical company focused on the discovery and development of novel neuroplastogen-derived therapeutics to solve major under-treated health problems.
Under this agreement, Polyrizon will develop a proprietary intranasal formulation of MEAI (5 methoxy 2 aminoindane), Clearmind’s proprietary, next-generation, non-hallucinogenic neuroplastogen drug candidate, intended for use in the treatment of addiction related and other central nervous system (CNS) conditions.
The collaboration between companies holds both scientific and strategic rationale as the objective of the collaboration is to advance an intranasal MEAI formulation to support Clearmind’s future clinical development programs initiatives.
Polyrizon’s technology platforms are designed to enable:
• Enhanced nasal residence time, through specialized gel like mechanisms
• Consistent and targeted delivery of active compounds
• Optimized patient usability
• Formulation flexibility tailored to the physicochemical profile of the API
CEO Tomer Izraeli commented, “We are proud to collaborate with Clearmind on the development of an intranasal formulation of MEAI. Our proprietary intranasal technology is designed to enable more targeted, efficient delivery, and we believe it may offer meaningful value as Clearmind advances MEAI through its clinical pathway.”
PLRZ shares captured 17 cents, or 1.4%, to $12.60, while CMND eked up four cents, or 2.7%, to $1.49.
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