<SEC-DOCUMENT>0001213900-22-030218.txt : 20220531
<SEC-HEADER>0001213900-22-030218.hdr.sgml : 20220531
<ACCEPTANCE-DATETIME>20220531070637
ACCESSION NUMBER:		0001213900-22-030218
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220531
FILED AS OF DATE:		20220531
DATE AS OF CHANGE:		20220531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PolyPid Ltd.
		CENTRAL INDEX KEY:			0001611842
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38428
		FILM NUMBER:		22980419

	BUSINESS ADDRESS:	
		STREET 1:		18 HASIVIM STREET
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			495376
		BUSINESS PHONE:		972-74-7195700

	MAIL ADDRESS:	
		STREET 1:		18 HASIVIM STREET
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			495376
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea160808-6k_polypid.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the Month of: May 2022 (Report No. 4)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-38428</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PolyPid Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Translation of registrant&rsquo;s name into
English)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 Hasivim Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Petach Tikva 495376, Israel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#9746;&nbsp;Form 20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form
40-F</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Attached
hereto and incorporated herein is PolyPid Ltd.&rsquo;s (the &ldquo;Registrant&rdquo;) press release issued on May 31, 2022, titled &ldquo;PolyPid
Announces Completion of Enrollment in Phase 3 SHIELD I Trial of D-PLEX<SUB>100 </SUB>for Prevention of Surgical Site Infections in Abdominal
Surgery.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The first paragraph and the
section titled &ldquo;Forward-looking Statements&rdquo; in the press release are incorporated by reference into the Registrant&rsquo;s
registration statements on <A HREF="http://www.sec.gov/Archives/edgar/data/1611842/000121390021035574/ea143509-f3_polypidltd.htm">Form F-3</A> (File No. 333-257651) and <A HREF="http://www.sec.gov/Archives/edgar/data/1611842/000110465920077735/tm209265d11_s8.htm">Form S-8</A> (File No. 333-239517), 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 89%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea160808ex99-1_polypid.htm">Press Release issued by PolyPid Ltd. on May 31, 2022, titled &ldquo;PolyPid Announces Completion of Enrollment in Phase 3 SHIELD I Trial of D-PLEX<SUB>100 </SUB>for Prevention of Surgical Site Infections in Abdominal Surgery.&rdquo;</A></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>POLYPID LTD.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: May 31, 2022</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Dikla Czaczkes Akselbrad</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dikla Czaczkes Akselbrad</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President and<BR>
Chief Financial Officer</FONT></TD></TR>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">3</P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea160808ex99-1_polypid.htm
<DESCRIPTION>PRESS RELEASE ISSUED BY POLYPID LTD. ON MAY 31, 2022, TITLED "POLYPID ANNOUNCES COMPLETION OF ENROLLMENT IN PHASE 3 SHIELD I TRIAL OF D-PLEX100 FOR PREVENTION OF SURGICAL SITE INFECTIONS IN ABDOMINAL SURGERY."
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PolyPid Announces Completion of Enrollment in
Phase 3 SHIELD I Trial of <FONT STYLE="background-color: white">D-PLEX<SUB>100 </SUB>for Prevention of</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><FONT STYLE="background-color: white">Surgical Site Infections in Abdominal
Surgery</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Following
Unblinded Interim Efficacy Analysis, Data Safety Monitoring Board Recently Recommended Concluding Study at 950 Patients, the Minimum
Number of Patients Targeted</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Top-line
Results Expected by End of Q3 2022; <FONT STYLE="background-color: white">Potential NDA and MAA Submissions Targeted for H1 2023</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PETACH TIKVA, Israel, May 31, 2022 -- <FONT STYLE="background-color: white">PolyPid
Ltd. (Nasdaq: PYPD)</FONT> (&ldquo;PolyPid&rdquo; or the &ldquo;Company&rdquo;)<FONT STYLE="background-color: white">, a late-stage biopharma
company aiming to improve surgical outcomes, announced today the completion of enrollment in the </FONT>SHIELD I Phase 3 study of <FONT STYLE="background-color: white">D-PLEX<SUB>100
</SUB>for the prevention of surgical site infections (SSIs) in abdominal surgery. Following a </FONT>review of unblinded efficacy data
from the first 750 enrolled patients in the <FONT STYLE="background-color: white">trial, the </FONT>independent Data Safety Monitoring
Board (DSMB) recently recommended concluding the study upon enrollment of 950 patients, which is the minimum number of targeted patients
in the trial protocol.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;The conclusion of enrollment in the pivotal SHIELD I trial,
the largest colorectal surgery clinical study conducted in more than a decade, represents an important milestone for our D-PLEX<SUB>100
</SUB>development program and our company as a whole,&rdquo; stated Amir Weisberg, PolyPid&rsquo;s Chief Executive Officer. &ldquo;We
look forward to the availability of top-line results from SHIELD I by the end of the third quarter of 2022. Subsequent to these expected
data, we intend to pursue a pre-NDA meeting with the FDA to discuss a rolling NDA submission, consistent with the Breakthrough Therapy
Designation previously granted, with potential NDA and MAA submissions planned for the first half of 2023. We are also focused on further
advancing commercial pre-launch activities, while expediting partnership discussions in and outside of the United States.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>About <FONT STYLE="background-color: white">SHIELD I</FONT></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white"><B>SHIELD
I (</B></FONT><B>S</B><FONT STYLE="background-color: white">urgical site&nbsp;</FONT><B>H</B><FONT STYLE="background-color: white">ospital
acquired&nbsp;</FONT><B>I</B><FONT STYLE="background-color: white">nfection pr</FONT><B>E</B><FONT STYLE="background-color: white">vention
with&nbsp;</FONT><B>L</B><FONT STYLE="background-color: white">ocal&nbsp;</FONT><B>D</B><FONT STYLE="background-color: white">-PLEX) is
a prospective, multinational, randomized, double blind Phase 3 trial designed to assess the efficacy and safety of D-PLEX</FONT><SUB>100</SUB>
<FONT STYLE="background-color: white">administered concomitantly with standard of care (SoC), which includes prophylactic systemic antibiotics,
compared to a SoC alone arm, in prevention of post abdominal surgery incisional infection. The primary endpoint of the trial is the combination
of incisional SSIs and mortality rate as measured by the proportion of subjects with either an SSIs event, as determined by a blinded
and independent adjudication committee, or mortality for any reason within 30 days post-surgery. The trial has enrolled patients in more
than 60 centers in&nbsp;the United States,&nbsp;Europe&nbsp;and&nbsp;Israel. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>About <FONT STYLE="background-color: white">D-PLEX<SUB>100</SUB></FONT></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">D-PLEX<SUB>100, </SUB>PolyPid&rsquo;s
lead product candidate, is designed to provide local prolonged and controlled anti-bacterial activity directly at the surgical site to
prevent SSIs. Following the administration of D-PLEX<SUB>100</SUB> into the surgical site, the </FONT>PLEX (Polymer-Lipid Encapsulation
matriX) <FONT STYLE="background-color: white">technology pairs with Active Pharmaceutical Ingredients, enabling a prolonged and continuous
release of the broad-spectrum antibiotic doxycycline, resulting in 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. D-PLEX<SUB>100</SUB>
received Breakthrough Therapy Designation from the U.S. FDA for the prevention of SSIs in patients undergoing elective colorectal surgery.
D-PLEX<SUB>100</SUB> also received three Qualified Infectious Disease Product (QIDP) designations, and three Fast Track designations for
the prevention of SSIs in patients undergoing elective colorectal surgery, post-abdominal surgery incisional infection and for the prevention
of sternal wound infection post-cardiac surgery.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>About PolyPid</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PolyPid Ltd. (Nasdaq: PYPD<FONT STYLE="font-family: Times New Roman, Times, Serif">)
</FONT>is a late-stage biopharma company aiming to improve surgical outcomes. Through locally administered, controlled, prolonged-release
therapeutics, PolyPid&rsquo;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&rsquo;s lead product
candidate <FONT STYLE="background-color: white">D-PLEX<SUB>100</SUB></FONT> 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. For additional Company information, please visit http://www.polypid.com
and follow us on Twitter <FONT STYLE="font-family: Times New Roman, Times, Serif">and </FONT>LinkedIn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
This press release contains &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act
and other securities laws. Words <FONT STYLE="background-color: white">such as &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;intends,&rdquo;
&ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;seeks,&rdquo; &ldquo;estimates&rdquo; 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
the Company&rsquo;s expectation to </FONT>report top-line results of <FONT STYLE="background-color: white">the </FONT>SHIELD I Phase 3
study by the end of the third quarter of 2022, potential NDA submission to FDA and a European Union MAA filing targeted in the first half
of 2023, the Company&rsquo;s intention to pursue a pre-NDA meeting with the FDA to discuss a rolling NDA submission and expedition of partnership
discussions in and outside of the United States. Forward-looking statements are not historical facts, and are based upon management&rsquo;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&rsquo;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&rsquo;s reports filed from time to time with the&nbsp;Securities and Exchange Commission&nbsp;(&ldquo;SEC&rdquo;),
including, but not limited to, the risks detailed in the Company&rsquo;s Annual Report on Form 20-F filed on&nbsp;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.</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">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.&nbsp;PolyPid&nbsp;is
not responsible for the contents of third-party websites.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Corporate Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PolyPid Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dikla Czaczkes Akselbrad</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EVP &amp; CFO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel: +972-747195700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bob Yedid</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LifeSci Advisors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">646-597-6989</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bob@LifeSciAdvisors.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nechama Feuerstein</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">FINN Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">551-444-0784</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nechama.Feuerstein@finnpartners.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



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