Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Attached hereto and incorporated herein is the
Registrant’s press release issued on February 6, 2026, titled “Polyrizon Signs an Agreement to Develop Intranasal Proprietary
Non-Hallucinogenic Neuroplastogen Formulation.”
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Polyrizon Signs an Agreement to Develop Intranasal
Proprietary Non-Hallucinogenic Neuroplastogen Formulation
Collaboration aims to leverage Polyrizon’s
advanced proprietary intranasal delivery platform to support clinical development of Clearmind’s drug candidate proprietary MEAI
Raanana, Israel, Feb. 06, 2026 (GLOBE NEWSWIRE)
-- Polyrizon Ltd. (Nasdaq: PLRZ) (“Polyrizon” or the “Company”), a pre-clinical-stage biotechnology company
developing intranasal protective solutions, today announced that it has entered into a development agreement with Clearmind Medicine Inc.
(Nasdaq: CMND) (“Clearmind”), a clinicalstage biopharmaceutical company focused on the discovery and development of novel
neuroplastogen-derived therapeutics to solve major under-treated health problems. Under this agreement, Polyrizon will develop a proprietary
intranasal formulation of MEAI (5methoxy2aminoindane), Clearmind’s proprietary, next-generation, non-hallucinogenic neuroplastogen
drug candidate, intended for use in the treatment of addictionrelated and other centralnervoussystem (CNS) conditions.
The collaboration between companies holds
both scientific and strategic rationale as the objective of the collaboration is to advance an intranasal MEAI formulation to support
Clearmind’s future clinical development programs initiatives.
Polyrizon’s technology platforms are
designed to enable:
| ● | Enhanced nasal residence time, through specialized gellike mechanisms |
| ● | Consistent and targeted delivery of active compounds |
| ● | Optimized patient usability |
| ● | Formulation flexibility tailored to the physicochemical profile of the API |
Intranasal administration is widely studied
as a delivery route with potential advantages over oral administration for certain disorders (or indications), particularly those intended
for CNS activity. Potential advantages, to MEAI, include:
| ● | Bypassing firstpass metabolism, which may allow more direct systemic access |
| ● | Potentially faster absorption, depending on compound characteristics |
These factors collectively support the exploration
of intranasal delivery for MEAI as Clearmind continues its development efforts.
Tomer Izraeli, Chief Executive Officer of
Polyrizon, commented,: “We are proud to collaborate with Clearmind on the development of an intranasal formulation of MEAI. Our
proprietary intranasal technology is designed to enable more targeted, efficient delivery, and we believe it may offer meaningful value
as Clearmind advances MEAI through its clinical pathway. We believe that this agreement reflects Polyrizon’s growing role as a partner
of choice for companies seeking specialized intranasal drugdelivery expertise.”
About Polyrizon
Polyrizon is a development
stage biotech company specializing in the development of innovative medical device hydrogels delivered in the form of nasal sprays, which
form a thin hydrogel-based shield containment barrier in the nasal cavity that can provide a barrier against viruses and allergens from
contacting the nasal epithelial tissue. Polyrizon’s proprietary Capture and Contain TM, or C&C, hydrogel technology, comprised
of a mixture of naturally occurring building blocks, is delivered in the form of nasal sprays, and potentially functions as a “biological
mask” with a thin shield containment barrier in the nasal cavity. Polyrizon are further developing certain aspects of our C&C
hydrogel technology such as the bioadhesion and prolonged retention at the nasal deposition site for intranasal delivery of drugs. Polyrizon
refers to its additional technology, which is in an earlier stage of pre-clinical development, that is focused on nasal delivery of active
pharmaceutical ingredients, or APIs, as Trap and Target ™, or T&T. For more information, please visit https://polyrizon-biotech.com.
About Clearmind Medicine Inc.
Clearmind is a clinical-stage psychedelic
pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread
and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds
and attempt to commercialize them as regulated medicines, foods, or supplements.
The Company’s intellectual portfolio
currently consists of nineteen patent families, including 31 granted patents. The Company intends to seek additional patents for its compounds
whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Shares of Clearmind are listed for trading
on Nasdaq under the symbol “CMND” and the Frankfurt Stock Exchange under the symbol “CWY0.”
For further information, visit: https://www.clearmindmedicine.com
Forward Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995 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 how the collaboration with Clearmind aims to leverage Polyrizon’s
advanced proprietary intranasal delivery platform to support clinical development of Clearmind’s drug candidate proprietary MEAI,
advancing an intranasal MEAI formulation to support Clearmind’s future clinical development programs initiatives and its belief
that the collaboration with Clearmind reflects Polyrizon’s growing role as a partner of choice for companies seeking specialized
intranasal drugdelivery expertise. 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 filed with the SEC on March 11, 2025 and subsequent filings
with the SEC. 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. Polyrizon is not responsible for the contents of third-party
websites.
Contacts:
Michal Efraty
Investor Relations
IR@polyrizon-biotech.com
