DelSiTech Ltd, a Finnish drug delivery technology and development company, and C-Tri Co. Ltd, a Korean KOSDAQ listed biopharmaceutical company, have signed a Partnership and Collaboration Agreement to develop long-acting controlled release formulations with significant commercial potential. The first C-Tri product being developed in this partnership is NHM-CT-007, a peptide drug for oncology.
“This partnership with C-Tri is an exciting opportunity for DelSiTech. It follows an already successful and long-lasting collaboration with C-Tri in which our Silica Matrix technology has been evaluated,” said Dr. Lasse Leino, CEO of DelSiTech. “We are very pleased that C-Tri has selected DelSiTech’s drug delivery technology for its new projects. It illustrates the great potential of biodegradable silica material in developing novel product opportunities.”
DelSiTech’s proprietary Silica Matrix technology allows the administration of parenteral controlled release drugs more precisely, safely and cost-effectively than with other alternative drug delivery technologies.
“We are very excited to have secured DelSiTech’s innovative drug delivery technology. Through this agreement, C-Tri and DelSiTech have an opportunity to be global leaders in developing controlled release oncology drugs. We are confident in taking a step towards entering the global oncology market based on progressing NHM-CT-007 clinical trials in Europe and plan to continue the manufacturing process in Europe as well,” said Dr. Wan-joo Kim, Founder, CEO and President of C-Tri. “We also plan to apply this drug delivery technology to other peptide drugs, specifically novel drugs, as part of our efforts to expand our pipeline.”