What Polyrizon does

Polyrizon Ltd. (NASDAQ: PLRZ) is a development-stage biotechnology company headquartered in Ra'anana, Israel, developing intranasal hydrogel products delivered as nasal sprays. The company operates two proprietary platforms: Capture & Contain (C&C), a drug-free polymeric barrier that forms a thin hydrogel shield in the nasal cavity for 3–5 hours per application, marketed under the lead product NASARIX (formerly PL-14) for seasonal allergic rhinitis and the preclinical PL-16 Viral Blocker targeting airborne respiratory viruses; and Trap & Target (T&T), a mucoadhesive polymer platform using sulfated polysaccharides crosslinked with divalent ions to prolong nasal residence time and enable controlled deposition of small molecules, peptides, proteins, and antibodies, applied to an intranasal naloxone candidate (94.6% nasal vestibule/upper turbinate deposition vs. 79.6% for a commercial reference product in a University of Parma cast study) and to a co-developed MEAI neuroplastogen formulation with Clearmind Medicine.

The company is pre-revenue with 1–10 employees, ~$17.5M cash and a debt-free balance sheet at year-end 2025, market capitalization of roughly $21–24M as of June 2026, and a stock price up 136% over the prior year. Capital is sourced via equity — a $17M private placement in March 2025 and a $3.5M registered direct offering in April 2026 — and is being directed toward U.S. multi-center clinical trials for NASARIX (three sites secured with up to five planned, including Texas), EU MDR-compliant human characterization studies, manufacturing scale-up, and IP expansion (published U.S. patent application US 2024/0358741 A1; European application EP 4751737).

Strategic activity in 2026 indicates a directional shift beyond pure biotech: Polyrizon signed non-binding MOUs to acquire 51% of Arrow Aviation Ltd. (private aviation, ~$19M revenue, ~$3M EBITDA, ~$5.8M cash) and to invest up to 20% in Colugo (Israeli eVTOL drones, up to $6M). If consummated, these transactions would convert the listed entity from a single-asset clinical biotech into a hybrid biotech/operating-business holding company — a material change in business model and risk profile that investors should underwrite separately from the core hydrogel pipeline.

Name

Polyrizon

Legal name

Polyrizon Ltd.

Website

https://polyrizon-biotech.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Polyrizon is an Israel-based, NASDAQ-listed development-stage biotech developing proprietary intranasal hydrogel nasal sprays (Capture & Contain and Trap & Target platforms) for allergy blocking, viral protection, and drug delivery, with no commercial revenue and a pipeline currently in U.S. and EU clinical studies.

Ownership category

akta.pro rank

Product category

Intranasal drug delivery and nasal barrier medical devices

NAICS

Urethane and Other Foam Product (except Polystyrene) Manufacturing (326150)

SIC

Miscellaneous Plastics Products (3080)

akta.pro primary industry

Nasal Drug Delivery Devices (Sprays/Powder Devices) (HLAHAIAK)

akta.pro secondary industry

Eye, Ear & Nasal Care OTC (Eye Drops, Ear Drops/Wax Removal, Saline Sprays) (CRADAMAG)

Keywords

• Intranasal drug delivery
• Nasal spray medical devices
• Hydrogel barrier technology
• Mucoadhesive polymer platforms
• Allergic rhinitis therapeutics

Headquarters

HQ city

Ra'anana

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Product Sales (Nasal Spray Medical Devices): Pre-revenue development-stage company. Anticipated future revenue from commercialization of intranasal hydrogel nasal spray products (NASARIX allergy blocker, PL-16 viral blocker, and naloxone intranasal formulation) as medical devices and/or drug-device combination products following regulatory approval. The global allergic rhinitis treatment market is estimated at $13 billion.
2. Platform Licensing and Co-development: Revenue from licensing the Trap & Target mucoadhesive polymer technology platform to pharmaceutical partners for drug delivery applications, as demonstrated by the development agreement with Clearmind Medicine for MEAI intranasal formulation. May include milestone payments and royalties on commercialized products.

Go-to-market motion1 record

Marketing channels3 records

Core offering

Polyrizon develops and commercializes intranasal hydrogel products delivered as nasal sprays for respiratory protection and drug delivery. The company operates two proprietary platforms—Capture & Contain (drug-free physical barrier) and Trap & Target (mucoadhesive drug delivery)—with lead candidates including the NASARIX allergy blocker, PL-16 viral blocker, intranasal naloxone, and a co-developed MEAI CNS formulation.

Product overview

Polyrizon is a development-stage biotech company specializing in innovative intranasal hydrogel products delivered as nasal sprays. The company operates two distinct technology platforms: Capture and Contain (C&C), a barrier protection technology that forms a physical hydrogel shield in the nasal cavity; and Trap and Target (T&T), a mucoadhesive drug delivery platform for enhanced pharmaceutical absorption. The product portfolio includes NASARIX (PL-14), an allergy blocker currently in clinical trials; PL-16 Viral Blocker for respiratory virus protection in pre-clinical development; intranasal naloxone hydrogel for opioid overdose reversal; and an MEAI formulation for CNS disorders developed in partnership with Clearmind Medicine.

Differentiator

Problem solved

Functional benefit

Brands

• NASARIX: Intranasal allergy blocker product (formerly PL-14) using Capture & Contain hydrogel technology to form a bio-adhesive barrier that physically traps allergens before they reach nasal tissue
• Capture & Contain
• Trap & Target

Products and services

• NASARIX (PL-14) Allergy Blocker Intranasal hydrogel allergy blocker spray using Capture & Contain technology to form a bio-adhesive barrier that physically traps airborne allergens before they reach nasal tissue; positioned as a drug-free preventive option for seasonal allergic rhinitis. Currently in U.S. multi-site clinical trials with planned FDA submission.
• PL-16 Viral Blocker Pre-clinical intranasal product using Capture & Contain hydrogel to form a physical barrier on nasal mucosa, targeting broad-spectrum protection against respiratory viruses including influenza and coronaviruses; pre-clinical data show over 90% cell protection against viruses.
• Intranasal Naloxone Hydrogel Intranasal naloxone formulation using Trap & Target technology designed for emergency opioid overdose reversal, demonstrating 94.6% nasal deposition in the vestibule and upper turbinate region vs. 79.6% for a commercial reference product.
• MEAI Intranasal Formulation Co-developed intranasal formulation of MEAI, a non-hallucinogenic neuroplastogen drug candidate for addiction-related and central nervous system conditions, leveraging Trap & Target technology for enhanced bioavailability and nasal residence time.
• Capture & Contain (C&C) Platform Proprietary hydrogel platform technology made from naturally occurring building blocks that forms a thin shield containment barrier in the nasal cavity, providing 3–5 hours of protection per application against airborne allergens, viruses, and molds by physically blocking and containing biological assaults. Non-irritant, non-drip nasal spray.
• Trap & Target (T&T) Platform Tunable mucoadhesive polymer platform combining sulfated polysaccharides with hydrophilic polymers crosslinked with divalent ions to create film-forming formulations for intranasal drug delivery. Prolongs nasal residence time, overcomes first-pass metabolism, controls API release kinetics, and prevents dripping; compatible with small molecules, proteins, peptides, and antibodies (corticosteroids, benzodiazepines, naloxone, vaccines, biologics).

Quantifiable outcome

• 94.6% nasal deposition in vestibule and upper turbinate region vs. 79.6% for commercial naloxone reference product
• +3 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• European University Medical CentercoreStrategic or Co-development Partner · 15 June 2026Agreement with a leading European university medical center to conduct a human performance and characterization study evaluating the nasal residence time of the NASARIX allergy blocker product. The single-site, non-interventional study involves healthy participants using endoscopic visualization techniques to assess how long the formulation remains in the nasal cavity, supporting Polyrizon's regulatory strategy including planned FDA submissions.
• Clinical Research Organization (CRO)coreImplementation/ SI/ Consulting Partner · 15 June 2026Agreement with a specialized contract research organization (CRO) to conduct a human performance and characterization study for NASARIX evaluating nasal residence time in healthy participants under European regulatory frameworks including MDR (EU) 2017/745 and GCP standards.
• U.S. Clinical Trial Sites (Texas and additional locations)coreImplementation/ SI/ Consulting Partner · 13 May 2026Multi-center clinical trial agreements with U.S. clinical research sites including a first site in Texas and additional strategically selected sites for the NASARIX (PL-14) clinical study in patients with seasonal allergic rhinitis. Three major U.S. clinical trial sites secured with up to five sites planned overall, conducted in accordance with international Good Clinical Practice standards.
• ColugominorOthers · 24 March 2026Polyrizon intends to acquire up to 20% of Colugo, an Israeli developer of advanced eVTOL drone systems, through a non-binding MOU involving an investment of up to $6 million, expected to close within 7 days of meeting conditions.
• Clearmind Medicine Inc.coreStrategic or Co-development Partner · 6 February 2026Development agreement with Clearmind Medicine Inc. to create a proprietary intranasal formulation of MEAI (5-Methoxy-2-aminoindane), a non-hallucinogenic neuroplastogen drug candidate for addiction-related and central nervous system conditions. Polyrizon applies its intranasal hydrogel technology to enhance MEAI's bioavailability, nasal residence time, and therapeutic efficacy through targeted delivery. The collaboration aims to advance MEAI through clinical development, with Polyrizon's technology designed to bypass first-pass metabolism and offer potentially faster absorption and lower effective doses compared to oral delivery.
• Arrow Aviation Ltd.minorOthers · 4 February 2026Polyrizon signed a non-binding Memorandum of Understanding to acquire a 51% stake in Arrow Aviation Ltd., a global private aviation company, for approximately $5.8 million in cash (NIS 18M). Arrow Aviation generates annual unaudited revenues of approximately $19 million and adjusted EBITDA of approximately $3 million, operating executive jets for VIP flights, medical evacuations, and hazardous materials cargo services. The agreement includes mutual call and put options on the remaining 49% stake exercisable after two years, potentially enabling Polyrizon to acquire 100% of Arrow Aviation on a fully diluted basis.
• University of Parma (Biopharmanet-TEC)coreStrategic or Co-development PartnerComparative pre-clinical study of Polyrizon's naloxone nasal formulation against a commercial reference product, conducted at the University of Parma's Biopharmanet-TEC research center using a silicone nasal cast model. Polyrizon's formulation achieved 94.6% deposition in the nasal vestibule and upper turbinate region compared to 79.6% for the reference product, demonstrating platform technology's ability to control nasal deposition patterns.

Scale indicators8 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• Becton, Dickinson and Company (BD): BD is a major medical device manufacturer with established intranasal drug delivery capabilities including the Prefilled Syringe and nasal delivery franchises. Comparable as a broad incumbent with overlapping nasal device/delivery capability, though diversified across many other product lines.
• Teva Pharmaceutical Industries: Teva is an Israeli-headquartered global pharmaceutical company with a portfolio of nasal spray products (e.g., allergy and respiratory sprays) and respiratory drug delivery expertise. Comparable as a broad incumbent operating in nasal drug delivery from the same home country as Polyrizon.
• Perrigo Company: Perrigo is a leading OTC consumer health company with a portfolio including nasal allergy products (e.g., Prevalin). Comparable as a broad incumbent in the OTC nasal care category where Polyrizon's NASARIX allergy blocker would ultimately compete if commercialized as a consumer device.
• Emergent BioSolutions: Emergent BioSolutions manufactures NARCAN, the dominant intranasal naloxone product for opioid overdose reversal. Directly comparable to Polyrizon's intranasal naloxone hydrogel program as the incumbent competitor in that specific application.
• Aptar Pharma: Aptar Pharma is a leading supplier of nasal drug delivery devices and spray pump systems used across prescription, OTC, and vaccine nasal products. Comparable as a broad incumbent enabling intranasal delivery, though Aptar is primarily a component supplier rather than a therapeutic developer.

Direct peers

• Impel Pharmaceuticals: Impel Pharmaceuticals develops intranasal drug delivery therapies targeting CNS disorders using its Precision Olfactory Delivery (POD) platform. Highly comparable to Polyrizon's Trap & Target platform for delivering drugs such as MEAI through the nasal route.
• Neurelis: Neurelis commercialized Valtoco, an intranasal diazepam spray for seizure clusters, leveraging nasal delivery for improved CNS bioavailability. Direct peer in intranasal drug-device combination products targeting CNS indications.

Emerging players

• Inhalon Biopharma: Inhalon Biopharma develops iSPERSE, a technology platform for intranasal and inhaled delivery of therapeutics including antivirals. Comparable emerging peer with a focused nasal/inhalation delivery platform intersecting with Polyrizon's viral blocker and drug delivery programs.
• Nocion Therapeutics: Nocion Therapeutics develops 'nocions,' charged local therapeutics that target inflamed or perturbed tissues including airway epithelium. Comparable emerging biotech working on respiratory and nasal drug delivery with novel mechanisms.
• AeroRx Therapeutics: AeroRx Therapeutics is developing inhaled and intranasal formulations of known drugs for respiratory and systemic conditions. Comparable emerging player building a pipeline of reformulated drugs using novel nasal/inhaled delivery, similar to Polyrizon's Trap & Target approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/polyrizon-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Polyrizon