DelSiTech and Tolmar Announce Global License and Development Agreement

2024-02-13

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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, Feb. 13, 2024 /PRNewswire/ -- 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.

About DelSiTech

DelSiTech Ltd., located in Turku, Finland, is the leading 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. For more information, see www.delsitech.com.

About Tolmar International Ltd

Tolmar is a fully integrated pharmaceutical company focused on the innovative development, manufacturing, and commercialization of specialty pharmaceuticals across multiple therapeutic areas, including Urology. Tolmar's product development and manufacturing facilities are based in Northern Colorado and its executive offices and commercial headquarters are based in Buffalo Grove, Illinois. For more information about the company, please visit www.tolmar.com.

About DelSiTechTM Silica Matrix

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.

SOURCE DelSiTech