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PolyPid Secures $26.7 Million Through Warrant Exercise Following Successful SHIELD II Phase 3 Trial Results

The Company Anticipates that with this Additional Funding, PolyPid's Runway would be Extended beyond Anticipated U.S. Food and Drug Administration ("FDA") Approval of D-PLEX₁₀₀.

The Company Recently Announced Successful Topline Results from its Phase 3 SHIELD II Trial; D-PLEX₁₀₀ Demonstrated a Statistically Significant Reduction in Surgical Site Infections ("SSIs") and Successfully Met the Study's Primary Endpoint and all Key Secondary Endpoints.

PETACH TIKVA, Israel, June 17, 2025 (GLOBE NEWSWIRE) -- PolyPid Ltd. (NASDAQ:PYPD) ("PolyPid" or the "Company"), a late-stage biopharma company aiming to improve surgical outcomes, today announced that following its recently announced successful SHIELD II phase 3 topline results, it has secured additional funding through the exercise of warrants with aggregate gross proceeds of $26.7 million. The Company anticipates that with this additional funding, PolyPid's runway would be extended beyond anticipated FDA approval of D-PLEX₁₀₀.

The funding was secured through new agreements the Company has entered into with certain holders of its existing warrants for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 7,626,514 ordinary shares, no par value, of the Company originally issued in January 2024 and December 2024. As part of the new agreements, the warrants will be exercised at a price of $3.50 per share. The aggregate gross proceeds from the exercise of the existing warrants are expected to total $26.7 million.

In consideration for the immediate exercise of the warrants for cash, the Company will issue 7,626,514 new unregistered warrants to purchase ordinary shares. The new warrants will be exercisable for an aggregate of up to 7,626,514 ordinary shares, at an exercise price of $4.50 per share and will be immediately exercisable upon issuance and for a term of two years from the issuance date. As part of the terms of the financing, it has been agreed that if the holder transfers/sells any of the shares acquired upon exercise of the existing warrants prior to the expiration or exercise of the new warrants, the new warrants shall immediately and automatically terminate and be forfeited with respect to the corresponding number of shares sold, unless such new warrants are concurrently exercised.

The transaction is expected to close on ...