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January 16, 2024
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DelSiTech Secures Impressive EUR 10M Financing for Groundbreaking Ventures

TLDR:

  • DelSiTech, a Finnish clinical-stage drug delivery and development company, has raised EUR 10 million ($12 million) in a funding round led by DRW Venture Capital and Tolmar International Ltd.
  • The funds will be used to scale operations, advance its drug delivery technology platform into clinical development, and expand its manufacturing capabilities to support multiple partner programs.
  • DelSiTech specializes in biodegradable silica-based controlled release of small molecule drugs, biologics, and vaccines.
  • The company’s proprietary technology, Silica Matrix, allows for tightly controlled release of active substances over extended periods of time.
  • CEO Said Lasse Leino stated that the financing will help the company reach its strategic goals and address unmet clinical and commercial needs.

Full Article:

DelSiTech, a Finnish clinical-stage drug delivery and development company, has closed a EUR 10 million ($12 million) financing round. The round was led by DRW Venture Capital and Tolmar International Ltd, who together contributed over EUR 9 million. Existing investors also participated in the round.

The funding will be used to further scale operations and advance DelSiTech’s in-house, silica-based drug delivery technology platform into clinical development. The company also plans to expand its in-house manufacturing capability to support the development programs of multiple partners.

DelSiTech specializes in biodegradable silica-based controlled release of small molecule drugs, biologics, and vaccines. The company collaborates with pharmaceutical and biotech companies to develop and commercialize its proprietary drug delivery technology. One of its key technologies, Silica Matrix, is an advanced delivery platform for injectable and implant dosage forms, as well as eye drops.

Silica Matrix is created by embedding the molecule or therapeutic agent of interest into a silica (SiO2) matrix using a process called sol-gel. The resulting matrix is non-porous, biocompatible, and can be designed to biodegrade at a controlled rate, allowing for the sustained release of the active substance over extended periods of time.

CEO Said Lasse Leino commented on the financing, stating, “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.”

DelSiTech’s funding round will support the company’s growth and advancement of its innovative drug delivery technology. With its proprietary Silica Matrix platform, the company aims to address the unmet clinical needs of patients by providing a controlled release of active substances over extended periods of time. The funding will help DelSiTech scale its operations and expand its manufacturing capabilities, allowing for further collaborations with pharmaceutical and biotech companies in the development of novel drug products.

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