Its proprietary PREZIA technology uses covalent bonding of therapeutics to a polymer backbone, enabling precise, customizable drug release over durations ranging from one week to over a year.

The lead asset, PA5108, is a biodegradable ocular implant delivering latanoprost to reduce intraocular pressure in glaucoma and ocular hypertension patients. In Phase IIa clinical studies, a single implant sustained clinically relevant pressure reductions for six months, with repeat dosing extending duration to at least 48 weeks. A Phase IIb trial in the U.S. is expected to start in Q3 2025 

In June 2025, PolyActiva closed a A$40 million (US$25 million) Series C financing co-led by the Australian National Reconstruction Fund (A$27 million) and Brandon.