Medigus' Polyrizon Inks Agreement To Develop Therapies For Traumatic Spinal Cord Injuries

• 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.

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