DelSiTech Ltd. has entered into a Licensing Agreement with an undisclosed global pharmaceutical company.

According to the Licensing Agreement, DelSiTech grants an exclusive global license to DelSiTech's Silica Matrix-based, controlled release technology for the development and commercialization of an undisclosed long-acting injectable drug product. 

Under the terms of the License Agreement, the licensee will pay DelSiTech an upfront payment of USD 9 million and up to more than USD 200 million 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," Leino added.