DelSiTech received financing from both private and public sources. The funding will secure the development of DelSiTech’s own supergeneric drug product until the end of first clinical studies.

Finnish drug delivery technology company DelSiTech Ltd announced today that it has successfully completed its latest financing round. The company raised almost EUR 1.7 million from private investors and the Finnish Funding Agency for Innovation (Tekes).  The new funding will be used to accelerate the development program of DelSiTech’s in-house supergeneric drug product candidate 1308.

“We are very pleased with the partnership with our investors, and the current financing is evidence of their belief in our technology and our team,” said Lasse Leino, CEO of DelSiTech Ltd. “This is an exciting time for DelSiTech as we advance our lead drug candidate 1308 toward clinical studies which are expected to start in early 2015.”