Drug developer Polyrizon climbs on deal to buy 51% of air ambulance operator

Polyrizon

10/02/2026 12:35

** Shares of  drug developer Polyrizon PLRZ.O rise 10.04% to $14.58 premarket

** Co says it signed a non‑binding deal to buy 51% of medical transport services provider Arrow Aviation

** Arrow provides services including air ambulance flights and medical evacuations, using its fleet of private jets

** PLRZ says Arrow generated about $19 million in annual unaudited revenue and $3 million in adjusted earnings

** Says a third party will transfer a Hawker 800 aircraft valued at $3.5 million to Arrow in exchange for convertible notes of Polyrizon

** Arrow's shareholders will waive the aviation firm's debts in exchange for additional Polyrizon convertible notes – PLRZ

** Shares halved in value in 2025

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))