DelsiTech Reveals Significant Licensing Agreement for Innovative Drug Delivery Solution
Friday, May 24, 2024
DelSiTech Ltd, a company specializing in clinical-stage drug delivery and development, has just unveiled a significant milestone. They've inked a Licensing Agreement with a prominent global pharmaceutical entity, although the partner's identity remains confidential.
In this pivotal agreement, DelSiTech grants exclusive global rights for their Silica Matrix-based controlled release technology. The focus lies on developing and commercializing a long-acting injectable drug product, the specifics of which are undisclosed.
As per the terms, the licensee will make an upfront payment of USD 9 million to DelSiTech, with potential for additional payments exceeding USD 200 million based on achieving development and commercial milestones. Moreover, DelSiTech stands to gain royalties from the licensed product's net sales.
Lasse Leino, DelSiTech's Chief Executive Officer, expressed enthusiasm about securing this agreement, marking the second such deal in the first half of 2024 with a major pharmaceutical partner. Leino emphasized how these successes affirm the company's persistent dedication to advancing therapies for patients in critical need.
Source: prnewswire.com
