top of page
Biotech Stories, News & Events

Similar Stories from FIB

Biotechnology: Charting a Course for a Sustainable Bioeconomy
17/06/24
Biotechnology: Charting a Course for a Sustainable Bioeconomy
Orion is developing the Finnish life science industry in a unique collaboration project
03/06/24
Orion is developing the Finnish life science industry in a unique collaboration project
DelSiTech Signs Significant Licensing Agreement with Global Pharmaceutical Company
23/05/24
DelSiTech Signs Significant Licensing Agreement with Global Pharmaceutical Company
Food from microbes - new boom in biotechnology
09/05/24
Food from microbes - new boom in biotechnology

DelSiTech Signs Significant Licensing Agreement with Global Pharmaceutical Company

Press Release – For Immediate Release May 23, 2024, 10:00 AM


The Turku-based drug delivery technology and pharmaceutical development company, DelSiTech Ltd, has entered into a financially significant collaboration and licensing agreement with a major global pharmaceutical company. Under the agreement, the pharmaceutical company gains worldwide rights to use DelSiTech's drug delivery technology for the development and commercialization of an undisclosed long-acting drug. DelSiTech will receive an upfront payment of €8.3 million and approximately €200 million in milestone payments for achieving various development and commercialization objectives. Additionally, the company will receive future royalties from the sales of the pharmaceutical product.


"This agreement is the second significant licensing deal this year. DelSiTech's commercial success demonstrates that persistent development and commercialization efforts pay off. DelSiTech is currently the world's leading technology company in the development of long-acting drugs. We aim to provide patients with the best possible treatment," says DelSiTech CEO Lasse Leino.


"With the licensing revenues and the equity financing announced in January, DelSiTech is in an excellent financial position to implement its growth strategy. We will increasingly invest in the development of our own long-acting pharmaceutical products while continuing to collaborate with our strategic partners," adds Leino.


DelSiTech Ltd develops and commercializes drug delivery technology based on its proprietary biodegradable silica-based biomaterial. The company also offers product development services and drug delivery solutions to other industry players and licenses its developed technology globally. The company employs over 50 people, and its business has been profitable for several years. For more information, visit


Contact Information:

DelSiTech LtdCEO Lasse LeinoPhone: +358 (0)40 8494 694Email: lasse.leino@delsitech.com

Comments


bottom of page