
DelSiTech announces closing of €10m financing round for silica-based drug delivery platform
Betsy Goodfellow | January 16, 2024 | News story | Manufacturing and Production | DelSiTech, Pharmacy, drug delivery, investment, manufacturing
DelSiTech has announced the successful completion of a €10m financing round, marking the largest single financing round in the company’s history.
This financing was co-led by DRW Venture Capital LLC, based in Chicago, US, and Tolmar International Ltd, based in Dublin, Ireland, together contributing more than €9m. The remaining financing was funded by the company’s existing investors.
This funding is intended to further advance DelSiTech’s unique, in-house, silica-based, drug delivery platform into clinical development. It is also hoped that it will help the company to expand its manufacturing capability.
Lasse Leino, chief executive officer at DelSiTech, commented: “We welcome DRW and Tolmar to DelSiTech as new investors and strategic partners at an important time of growth and development. This financing marks a significant milestone on our journey as one of the world’s leading drug delivery technology providers, with an attractive internal pipeline of controlled release drug products based on Silica Matrix. 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.”
Betsy Goodfellow
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