Delsitech announces a major licensing agreement on drug delivery
Turku, Finland – 23rd May, 2024. 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.
