PolyPid Ltd. (PYPD) Announces Upcoming CEO Transition

PolyPid Ltd. (Nasdaq: PYPD), a Phase 3 biopharmaceutical company focused on developing targeted, locally administered, and prolonged-release therapeutics using its proprietary PLEX technology, today announced that its Board of Directors has appointed Dikla Czaczkes Akselbrad, currently the Company’s Executive Vice President and Chief Financial Officer, as PolyPid’s Chief Executive Officer, effective July 1, 2022. Amir Weisberg, who currently serves as Chief Executive Officer and a director, will direct a transition period with Ms. Czaczkes Akselbrad beginning on April 1, 2022, and will retire from the Chief Executive Officer position, a role in which he has served for over 11 years, effective on July 1, 2022.

“On behalf of the Board of Directors, I would like to congratulate Dikla on her well-deserved appointment as CEO,” said Jacob Harel, PolyPid’s Chairman. “Since joining PolyPid seven years ago, she has been instrumental in guiding our financial, strategic and operational objectives. As we approach commercialization, our business is at a critical inflection point, and we are confident that under Dikla’s leadership, we will execute on the many compelling opportunities that lie ahead of us. Moreover, we will continue to benefit from Amir’s invaluable strategic support over the coming months. Under his leadership, PolyPid is in the strongest operational and financial position in its history, and we thank Amir for his significant contributions as CEO over the past 11 years.”

“It has been an honor to have served as CEO of PolyPid throughout the development phase of our company,” stated Mr. Weisberg. “As we prepare for our next phase of growth, Dikla is the ideal future leader of the Company. It has been a privilege working alongside her over the past several years. Dikla brings a relentless focus on operational execution, and a proven track record of driving growth and innovation. I look forward to continuing to work closely with her as we further advance our business in the coming quarters.”

“I am grateful to have the opportunity to lead the Company at this exciting time in our corporate evolution,” said Ms. Czaczkes Akselbrad. “We continue to rapidly advance our many development programs, including the large Phase 3 program for our lead asset, D-PLEX100, for the prevention of Surgical Site Infections, as well as progress our commercial preparations. In addition, our promising OncoPLEX development platform initially targeting brain tumors continues to generate compelling preclinical data, and we are preparing to begin a clinical study this year. I look forward to continuing to work with our talented and passionate team to achieve further clinical and operational success and drive long-term shareholder value.”

Separately, PolyPid announced that Shaul Mukhtar, Ph.D., Chief Operating Officer of PolyPid, will be retiring from the Company, effective March 2022, following two and a half years with PolyPid.

Ms. Czaczkes Akselbrad is an experienced life sciences industry executive who has demonstrated the ability to lead a company through critical international strategic, financial and business transitions, including raising over $300 million in various forms in her last two positions. She has more than 20 years of experience in strategic planning, managing corporate teams, establishing international company procedures and standards, and driving major corporate negotiations with global companies. Prior to joining PolyPid as the Chief Financial Officer in 2014, Ms. Czaczkes Akselbrad served as Chief Financial Officer of Compugen Ltd. (NASDAQ & TASE: CGEN), a leading biotechnology company focused on the discovery and licensing of product candidates to the drug industry. She received a B.A. in accounting and economics from Tel-Aviv University, and an MBA from Tel-Aviv University.

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