DelSiTech and Tolmar Announce Global License and Development Agreement
- Tolmar secures global license to DelSiTech’s Silica Matrix technology to develop and commercialize two undisclosed drug targets
- DelSiTech and Tolmar to expand development of additional drug products across a range of therapeutic areas
- DelSiTech is eligible to receive upfront payments, development and commercial milestone payments, and royalties on licensed products
Turku, Finland and Dublin, Ireland – 13th February 2024. Clinical-stage drug delivery and development company, DelSiTech Ltd., and Tolmar International Ltd., a fully-integrated pharmaceutical company, today announce the signing of a global license and development agreement, further strengthening their collaboration, following investment from Tolmar in January 2024.
Under the terms of the Agreement, Tolmar will obtain a global license to utilize DelSiTech’s proprietary, silica-based, drug delivery technology platform for the development and commercialization of two undisclosed long-acting injectable drug products. In addition, both companies will collaborate to explore additional development opportunities using controlled release drug products based on Silica Matrix across a broad range of therapeutic areas, which include urology, reproductive health, and pediatric endocrinology.
Under the terms of the license agreement, DelSiTech will be eligible to receive an upfront payment, development and commercial milestone payments, and royalties on net sales of licensed products. No amounts have been disclosed.
“We are thrilled to expand our partnership with Tolmar, which further validates the potential of our proprietary, silica-based, drug delivery technology platform.” said Lasse Leino, Chief Executive Officer at DelSiTech. “By joining forces and combining our expertise in advanced drug delivery technologies, we have the ability and potential to develop novel products for the benefit of patients in need of improved therapies. The licensing agreement is a natural next step, following investment from Tolmar at the beginning of this year.”
“Our partnership with DelSiTech has the potential to further strengthen Tolmar’s position as a leader in long-acting injectable drug products and provides Tolmar with another exciting technology as we continue to expand our portfolio and pipeline for the benefit of patients." commented Anil D'Souza, President and Chief Executive Officer of Tolmar.
