DelSiTech Ltd, a Turku, Finland-based drug delivery and drug development company, received grant funding from the Bill & Melinda Gates Foundation.
The amount of the deal was not disclosed.
The company intends to use the funds for the development of thermostabilized viral vaccines.
Led by Dr. Lasse Leino, CEO, DelSiTech is a technology specialist in biodegradable silica-based controlled release of small molecule drugs, biopharmaceuticals and viral vectors. It develops and commercializes its proprietary, drug delivery technology in collaboration with a number of pharma and biotech companies to turn their ideas into novel drug products. In addition, the company is developing its own pipeline of supergeneric/505(b)(2) products to address significant unmet medical and commercial needs. Its lead product, a long acting antiviral product for hepatitis B, will enter the clinic in 2019.
The DelSiTech[TM]Silica Matrix is a sustained and controlled release delivery technology for administration of injectable, implant and topical eye drop dosage forms.