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- Polyrizon Ltd, in which Medigus Ltd (NASDAQ:MDGS) owns a 37.03% stake, signed a binding Collaboration Agreement with NurExone Biologic Inc for therapies for traumatic spinal cord injuries.
- Polyrizon is an Israeli biotech company specializing in intranasal products.
- Under the 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.
- Under the Collaboration Agreement, NurExone will cover the formulation development costs in an estimated amount of $220,000 in 3 installments.
- NurExone shall pay development fees to Polyrizon of up to $3.35 million as milestone payments, including $500,000 upon successful completion of Phase 2 clinical trial.
- In the advanced stages of the collaboration, Polyrizon may assist NurExone with regulatory submissions for the U.S and Europe.
- Manufacturing and marketing rights for formulations under the Collaboration Agreement are exclusive to NurExone.
- Price Action: MDGS shares are up 8.77% at $0.62 during the premarket session on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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