DelSiTech, a Turku, Finland-based clinical-stage drug delivery and development company, raised EUR 10M in funding.
The round was led by DRW Venture Capital, and Tolmar International Ltd, which together contributed more than EUR 9M, and existing investors.
The company intends to use the funds to further scale operations and advance its in-house, silica-based, drug delivery technology platform into clinical development, as well as expanding its in-house manufacturing capability to support the development programs of multiple partners.
Led by CEO Said Lasse Leino, DelSiTech is a 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.
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.
Commenting on the news, Said Lasse Leino said: “This financing marks a significant milestone on our journey as one of the world’s leading drug delivery technology providers, with an attractive internal pipeline of controlled release drug products based on Silica Matrix. This investment, together with our increasing revenues from our own drug development, will help us to reach our strategic business goals and objectives over the next couple of years, as we continue to address high unmet clinical and commercial needs for the benefit of patients.”
FinSMEs
16/01/2024