PolyPid Wins First Prize at Biomed Startup Competition
Petah Tikva, Israel, June 18, 2014. PolyPid, a developer of proprietary medical device and drug delivery solutions, today announced that it won First Prize in the startup competition at MIXiii Biomed Israel Innovation Conference, held in Tel Aviv.The prize was awarded to PolyPid for the company’s “innovative and prominence solutions that answer a profound need and a viable necessity in the field of Pharmaceuticals.”
PolyPid’s unique drug delivery platform fuses two known drug delivery systems: polymer-based and lipid-based. This unique, IP-protected platform is highly flexible, and can be designed to adapt its combined characteristics and performance to solve a wide range of medical objectives in a variety of clinical fields.
PolyPid’s medical device, BonyPid™, is a synthetic bone graft substitute made of β tricalcium phosphate (TCP) granules coated with doxycycline. BonyPid is intended for filling bone voids or defects of the skeletal system. These defects may be surgically created osseous defects, or osseous defects created from traumatic injury to the bone. BonyPid™ contains doxycycline hyclate to reduce microbial colonization of the bone void filler by doxycycline-sensitive bacteria.
BonyPid™ device solutions uniquely protect implanted devices from early resorption over a prolonged period of time. BonyPid™ is now entering its advanced clinical evaluation phase. A first-in-man study, has shown promising performance and excellent safety profile in severe open fractures patients.
“The prize is an outstanding recognition of our innovativeness, professionalism and expertise,” said Dr. Noam Emanuel, PolyPid’s Chief Technology Officer. “The award validates the feedback we have received from the global pharmaceutical and medical device industries.”
Founded in 2008 and located in Israel, PolyPid offers proprietary medical device and drug delivery solutions. Polypid’s pharma solutions optimize drug delivery by enabling a controlled, constant and prolonged release of drug. PolyPid Ltd. is owned by Xenia Venture Capital, private investors and the founders. For more information about PolyPid, visit www.polypid.com
Kanaan Public Relations