Clinical-stage drug delivery and development company DelSiTech today announced that it has entered into a licensing agreement with an undisclosed global pharmaceutical company.

According to the licensing agreement, DelSiTech has granted an exclusive global licence for its Silica Matrix-based, controlled release technology for the development and commercialisation of an undisclosed long-acting injectable drug product. Under the terms of the agreement, the licensee will pay DelSiTech an upfront payment of $9m and up to more than $200m for the achievement of development and commercial milestones. DelSiTech is also eligible to receive royalties on net sales of the licensed product.

“We are excited to announce the second license agreement in the first half of 2024 with a global pharmaceutical partner,” said Lasse Leino, chief executive officer at DelSiTech. “These successes continue to validate our sustained hard work for the benefit of patients in need of vital new therapies.”