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

Reuters

02/10

** 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))

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20:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Drug developer Polyrizon climbs on deal to buy 51% of air ambulance operator</title></head><body><p>** Shares of  drug developer Polyrizon <span>PLRZ.O</span> rise 10.04% to $14.58 premarket</p><p>** Co says it signed a non‑binding deal to buy 51% of medical transport services provider Arrow Aviation </p><p>** Arrow provides services including air ambulance flights and medical evacuations, using its fleet of private jets</p><p>** PLRZ says Arrow generated about $19 million in annual unaudited revenue and $3 million in adjusted earnings</p><p>** Says a third party will transfer a Hawker 800 aircraft valued at $3.5 million to Arrow in exchange for convertible notes of Polyrizon </p><p>** Arrow's shareholders will waive the aviation firm's debts in exchange for additional Polyrizon convertible notes – PLRZ</p><p>** Shares halved in value in 2025</p><p> (Reporting by Sahil 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