DelSiTech and Tolmar Announce Global License and Development Agreement
DelSiTech is eligible to receive upfront payments, development and commercial milestone payments, and royalties on licensed products
- 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.
- 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.
- The licensing agreement is a natural next step, following investment from Tolmar at the beginning of this year."