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 PolyPid Ltd.’s (the “Registrant”) press release issued on October 28, 2026, titled “PolyPid Unveils
Expanded Pipeline Strategy, Introducing PD01B, a New Kynatrix™-Based Product Candidate for the Treatment of Diabetic Foot Infections.”
The first paragraph and
the sections titled “Introducing PD01B”, “Upcoming Potential Milestones and Timelines”, and
“Forward-looking Statements” in the press release attached hereto as Exhibit 99.1 are incorporated by
reference into the Registrant’s registration statements on Form F-3 (File No. 333-276826,
File No. 333-280658,
File No. 333-281863,
File No. 333-284376 and
File No. 333-289034)
and Form S-8 (File No. 333-239517,
File No. 333-271060, File
No. 333-277703, File No.
333-280662, File No. 333-289570 and File No. 333-298261) filed with the Securities and Exchange Commission to be a part
thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or
furnished.
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

PolyPid Unveils Expanded Pipeline Strategy,
Introducing PD01B, a New Kynatrix™ Based Product Candidate
for the Treatment of Diabetic Foot Infections
Company to host virtual Investor Day today at
11:30 AM ET, featuring key opinion leader Warren S. Joseph, DPM, FIDSA
All scheduled FDA interactions on track and
aligned with D-PLEX₁₀₀ November 28, 2026 PDUFA goal date
PolyPid introduces PD01B, a new product candidate
targeting hyper-localized, controlled-release antibiotic treatment of diabetic foot infections, based on the Company’s proprietary
Kynatrix technology
PD01B planned to be developed as a new NDA;
pre-IND meeting and first-in-human study both expected in the second half of 2027
PETACH TIKVA, Israel, Oct. 28, 2026 (GLOBE NEWSWIRE) -- PolyPid Ltd.
(Nasdaq: PYPD) (“PolyPid” or the “Company”), an innovative biopharmaceutical company dedicated to elevating treatment
effectiveness, right where care begins, today unveiled its expanded pipeline strategy, extending its Kynatrix delivery technology from
infection prevention to infection treatment, beginning with PD01B. The Company will discuss its upcoming strategy and long-term vision,
including PD01B and its plans for D-PLEX₁₀₀, at its virtual Investor Day taking place today at 11:30 AM ET, featuring
key opinion leader Warren S. Joseph, DPM, FIDSA. Details for accessing the event are provided below.
“With D-PLEX₁₀₀ approaching its Prescription
Drug User Fee Act (“PDUFA”) date, a committed commercial partner in the U.S. and European rights back under our control, we
are now in a position to advance other assets in our pipeline,” said Dikla Czaczkes Akselbrad, Chief Executive Officer of PolyPid.
“PD01B is our first step in extending Kynatrix from preventing infections to treating them. While PD01B is a distinct product, with
its own formulation, indication and care setting, it is built on the Kynatrix technology that was clinically validated in our Phase 3
SHIELD II trial of D-PLEX₁₀₀, and it leverages our established CMC and manufacturing capabilities. We believe this gives
PD01B a potentially accelerated, more capital-efficient path into the clinic.”
Introducing PD01B Diabetic foot infections (“DFIs”)
are among the most serious and costly complications of diabetes, which affect an estimated 589 million adults worldwide.1
Between one in five and one in three people with diabetes will develop a foot ulcer in their lifetime,2 and about half of
these ulcers are already infected when patients present for care. DFIs are the most frequent diabetes-related complication requiring
hospitalization and the most common event leading to lower-extremity amputation. In one large prospective study cited in the 2023 international
guidelines, one year after presenting with an infected foot ulcer only 46% of patients had healed, while 17% had undergone a lower-extremity
amputation and 15% had died.3
Current treatment relies on debridement and systemic antibiotics, which
can struggle to achieve adequate concentrations in infected tissue with poor blood supply and, over courses that can last weeks, contribute
to adverse events and antimicrobial resistance. Locally delivered antibiotics offer the potential to reach very high concentrations at
the site of infection.
| 1 | International
Diabetes Federation. IDF Diabetes Atlas, 11th edition. 2025. https://diabetesatlas.org/ |
| 2 | Armstrong
DG, Boulton AJM, Bus SA. Diabetic Foot Ulcers and Their Recurrence. N Engl J Med. 2017;376(24):2367-2375. https://doi.org/10.1056/NEJMra1615439 |
| 3 | Senneville
É, Albalawi Z, van Asten SA, et al. IWGDF/IDSA Guidelines on the Diagnosis and Treatment of Diabetes-related Foot Infections (IWGDF/IDSA
2023). Clin Infect Dis. 2023. https://doi.org/10.1093/cid/ciad527 |
PD01B is designed to address this gap. It combines doxycycline, a
well-characterized broad-spectrum antibiotic with activity against common DFI pathogens, including methicillin-resistant Staphylococcus
aureus (MRSA),4 with PolyPid’s Kynatrix technology. Applied directly into the wound after debridement, PD01B is designed
to sustain high local doxycycline levels in the infected tissue for weeks. PD01B is being developed for patients with moderate to severe
infections, the population on which U.S. Food and Drug Administration’s (“FDA”) guidance for DFI clinical trials focuses.5
At the Investor Day, Dr. Joseph, a leading podiatric physician specializing
in lower extremity infectious diseases and Editor-in-Chief of the Journal of the American Podiatric Medical Association, will discuss
the clinical burden of DFIs, the limitations of current treatment approaches, and the potential role of locally delivered, long-acting
antibiotic therapy. PolyPid’s management will also review the Company’s plans to maximize the value of D-PLEX₁₀₀,
for which a New Drug Application (“NDA”) is under FDA Priority Review with a PDUFA goal date of November 28, 2026, including
potential label expansion beyond colorectal surgery and potential geographic expansion. A live question-and-answer session with Dr. Joseph
and management will follow the formal presentations.
Upcoming Potential Milestones and Timelines
| · | D-PLEX₁₀₀ PDUFA goal date: November 28, 2026 |
| | | |
| · | D-PLEX₁₀₀ U.S. launch: expected in early 2027, subject
to FDA approval |
| | | |
| · | FDA communications on label expansion into additional abdominal surgeries:
initiation in the fourth quarter of 2026, with potential label expansion into additional surgeries in 2028 |
| | | |
| · | CMS decision on New Technology Add-on Payment (“NTAP”): expected
in August 2027 |
| | | |
| · | Canadian New Drug Submission for D-PLEX₁₀₀: 2027 |
| | | |
| · | European Medicines Agency (“EMA”) decision on the D-PLEX₁₀₀
Marketing Authorization Application: second half of 2027, with a potential EU launch in 2028 |
| | | |
| · | PD01B pre-investigational new drug (“IND”) meeting with the FDA
and first-in-human study: second half of 2027 |
| 4 | Senneville
É, et al. IWGDF/IDSA 2023 (see note 3). https://doi.org/10.1093/cid/ciad527 |
| 5 | U.S.
Food and Drug Administration. Diabetic Foot Infections: Developing Drugs for Treatment. Guidance for Industry. June 2024. https://www.fda.gov/media/173006/download |

Investor Day Dial-In & Webcast Information:
To ensure you are connected prior to the beginning of the event, PolyPid
suggests registering a minimum of 5 minutes before the start of the event. For those not planning to ask a question of management or Dr.
Joseph, the Company recommends listening via the webcast.
| Date: |
Wednesday, October 28, 2026 |
| Time: |
11:30 AM Eastern Time |
| Conference Call: |
https://register-conf.media-server.com/register/BIb1af168335ad493c80fe51bb064f7b95 |
| Webcast: |
https://edge.media-server.com/mmc/p/97rvqcaj |
The presentation will be available on the Events & Presentations
page of the Investors section of the Company’s website at investors.polypid.com. A replay of the event will be available on the
same page following the event.
About PD01B
PD01B is a new product candidate being developed by PolyPid for the
treatment of moderate to severe diabetic foot infections. Built on PolyPid’s Kynatrix delivery technology, PD01B is designed to
be applied directly into the wound after debridement and to provide controlled release of the broad-spectrum antibiotic doxycycline, resulting
in hyper-localized, high concentrations of the drug at the site of infection for weeks.
About D-PLEX₁₀₀
D-PLEX₁₀₀, PolyPid’s lead product candidate,
is designed to provide local prolonged and controlled anti-bacterial activity directly at the surgical site with the goal of preventing
abdominal surgical site infections (“SSIs”). Following the administration of D-PLEX₁₀₀ into the surgical
site, PolyPid’s delivery technology, Kynatrix, is designed to pair with Active Pharmaceutical Ingredients, enabling a prolonged
and continuous release of the broad-spectrum antibiotic doxycycline, resulting in a high local concentration of the drug for a period
of 30 days for the prevention of SSIs, with additional potential to prevent SSIs caused by antibiotic-resistant bacteria at the surgical
site. In the Phase 3 SHIELD II trial, D-PLEX₁₀₀ recently demonstrated positive results in achieving its primary end
point and a 60% (p=0.0013) relative risk reduction at the secondary end point in SSI incidence following abdominal colorectal surgery
with large incisions. D-PLEX₁₀₀ received Breakthrough Therapy Designation from the U.S. Food and Drug Administration
for the prevention of SSIs in patients undergoing elective colorectal surgery.
About PolyPid
PolyPid Ltd. (Nasdaq: PYPD) is an innovative biopharmaceutical company
dedicated to elevating treatment effectiveness, right where care begins. The Company develops long-acting, controlled-release drugs designed
to deliver therapy precisely at the site of care, addressing critical unmet medical needs across a wide and diverse pipeline spanning
surgical care, metabolic diseases, and beyond. PolyPid’s lead product, D-PLEX₁₀₀, successfully met its primary
and all key secondary endpoints in the landmark Phase 3 SHIELD II trial for the prevention of surgical site infections. Guided by a commitment
to precision and innovation, PolyPid is redefining how therapies perform and raise the standard of patient care. For additional Company
information, please visit http://www.polypid.com and follow us on Twitter
(X) and LinkedIn.
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 its pipeline and growth strategy; the design, development plan, regulatory pathway and potential benefits of PD01B,
including the anticipated timing of a pre-IND meeting and the initiation of a first-in-human study; the potential role of locally delivered,
long-acting antibiotic therapy; anticipated milestones and timelines, the intended duration of local antibiotic delivery, the anticipated
timing of the U.S. launch of D-PLEX₁₀₀, the CMS decision on NTAP, the Canadian New Drug Submission, the EMA decision
on the Marketing Authorization Application and a potential EU launch; the FDA’s Priority Review of the D-PLEX₁₀₀
NDA, the November 28, 2026 PDUFA goal date and the potential FDA approval of D-PLEX₁₀₀; and the potential expansion
of D-PLEX₁₀₀ into additional surgical indications and geographies. 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, including,
but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed on February 25, 2026. 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.
Company Contact:
PolyPid Ltd.
Ori Warshavsky
908-858-5995
IR@Polypid.com
Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
polypid@arxhq.com