Full Press Release Details
PolyPid Announces Dikla Czaczkes Akselbrad Assumes
Company Previously Announced Planned CEO Transition
Following Retirement of Amir Weisberg
PETACH TIKVA, Israel - July 5, 2022 -- PolyPid Ltd. (Nasdaq:
PYPD) ("PolyPid" or the "Company"), a late-stage biopharma company aiming to improve surgical outcomes, announced
today that Dikla Czaczkes Akselbrad, formerly the Company's Executive Vice President and Chief Financial Officer, has assumed the
role of PolyPid's Chief Executive Officer, effective July 1, 2022. Ms. Czaczkes Akselbrad's appointment was announced in January
2022, and follows the retirement of Amir Weisberg, who served as the Company's CEO since 2010, and led PolyPid through its development
"I am looking forward to PolyPid continuing to flourish under
Dikla's leadership," said Jacob Harel, chairman of PolyPid's board of directors. "Dikla's strong industry
background and proven ability to guide the Company's strategic, operational and financial objectives over the past eight years make
her an excellent fit for this role. Her expertise in driving growth and innovation will be instrumental as PolyPid prepares for a potential
New Drug Application submission and the commercialization of D-PLEX100."
Ms. Czaczkes Akselbrad joined PolyPid as Chief Strategy Officer in
2014 and has served as PolyPid's Executive Vice President and Chief Financial Officer since 2017, leading the Company's initial
public offering on the Nasdaq Global Market in June 2020. Ms. Czaczkes Akselbrad has over 20 years of experience in leading life sciences
companies through critical international strategic, financial and business transitions, including raising over $350 million in various
forms in her prior two CFO roles, including at Compugen Ltd. (Nasdaq & TLV: CGEN).
"I am honored to serve as the CEO of PolyPid, a company committed
to improving clinical outcomes for patients," said Ms. Czaczkes Akselbrad. "I would like to recognize the tremendous effort
by the talented PolyPid team, especially in making key accomplishments in our clinical development and manufacturing areas over the past
several years, and bringing us to the cusp of important events for the Company, including the anticipated results of our pivotal Phase
PolyPid recently announced the completion of
its SHIELD I Phase 3 study of D-PLEX100 for the prevention of surgical site infections in abdominal surgery, with top-line
end of the current quarter.
PolyPid Ltd. (Nasdaq: PYPD) is a late-stage biopharma
company aiming to improve surgical outcomes. Through locally administered, controlled, prolonged-release therapeutics, PolyPid's
proprietary PLEX (Polymer-Lipid Encapsulation matriX) technology pairs with Active Pharmaceutical Ingredients, enabling precise delivery
of drugs at optimal release rates over durations ranging from several days to months. PolyPid's lead product candidate D-PLEX100
is in Phase 3 clinical trials for the prevention of soft tissue abdominal and sternal bone surgical site infections. In addition,
the Company is currently in preclinical stages to test the efficacy of OncoPLEX for treatment of solid tumors, beginning with glioblastoma.
Forward-looking Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "estimates"
and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is
using forward-looking statements when it discusses that the Company prepares for a potential New Drug Application submission and the
commercialization of D-PLEX100, and the Company's expectation to report top-line results of the SHIELD I Phase 3 study
by the end of the current quarter. Forward-looking statements are not historical facts, and are based upon management's current
expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections
are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be
achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking
statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed
in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is
made to the Company's reports filed from time to time with the Securities and Exchange Commission ("SEC"),
including, but not limited to, the risks detailed in the Company's Annual Report on Form 20-F filed on February 28, 2022.
Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking
statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting
forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking
statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other
forward-looking statements.
References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated
by reference into this press release. PolyPid is not responsible for the contents of third-party websites
Dikla Czaczkes Akselbrad