TURKU,
Finland, May 23, 2024 /PRNewswire/ --
Clinical-stage drug delivery and development company,
DelSiTech Ltd, today announced that the company has entered
into a Licensing Agreement with an undisclosed global
pharmaceutical company.
According to the Licensing Agreement, DelSiTech grants an
exclusive global license to DelSiTech's Silica Matrix based,
controlled release technology for development and commercialization
of an undisclosed long-acting injectable drug product. Under the
terms of the License Agreement, the licensee will pay DelSiTech an
upfront payment of USD 9 million and
up to more than USD 200 million for
achievement of development and commercial milestones. DelSiTech is
also eligible to receive royalties on net sales of the licensed
product.
"We are excited to announce the second license agreement in the
first half of 2024 with a global pharmaceutical partner," said
Lasse Leino, Chief Executive
Officer at DelSiTech. "These successes continue to validate our
sustained hard work for the benefit of patients in need of vital
new therapies."
About DelSiTech:
DelSiTech Ltd., located in
Turku, Finland, is the leading
technology specialist in biodegradable silica-based controlled
release of small molecule drugs, biologics, and vaccines. It
develops and commercializes its proprietary drug delivery
technology in collaboration with a number of pharmaceutical and
biotech companies to turn their ideas into novel drug products. For
more information, see www.delsitech.com.
About DelSiTechTM Silica
Matrix
Silica Matrix is an advanced delivery technology platform for
parenteral and local administration of injectable and implant
dosage forms as well as eye drops. The proprietary technology is
based on silica (SiO2) matrix into which the molecule or
therapeutic agent of interest is embedded using a process called
sol-gel. The resulting Silica Matrix is non-porous, biocompatible
and it can be designed to biodegrade by matrix dissolution at the
desired rate to ensure a tightly controlled release of the active
substance over periods of days up to many months or a year.
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SOURCE DelSiTech