DELSITECH ANNOUNCES A MAJOR LICENSING AGREEMENT ON DRUG DELIVERY

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May 23, 2024, 03:00 ET

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 DelSiTech^TM 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.

SOURCE DelSiTech