TURKU, Finland, December 18, 2017 /PRNewswire/ --
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."
About DelSiTech Ltd
DelSiTech Ltd., located in Turku, Finland, develops and commercializes its proprietary biodegradable silica based drug delivery technology. The Company collaborates with a number of pharma and biotech companies globally and works with its partners to turn their product ideas into novel drug products. For more information, see www.delsitech.com.
About C-Tri Co. Ltd
C-TRI Co., Ltd., a pharmaceutical company, develops drugs in South Korea, specially focuses on developing new peptide drugs based on drug delivery system. The company also provides over the counter drugs and ethical the counter drugs, as well as CMO services. C-TRI Co., Ltd. was founded in 1998 and is headquartered in Namyangju, South Korea. The company's R&D areas have included central nervous system diseases and oncology drugs also using its delivery system technology. For more information, see www.c-tri.co.kr.
Dr. Lasse Leino, CEO
Dr. Cora Griffin, Business Development Director
C-Tri Co. Ltd:
Dr. Wanjoo Kim, CEO
Mr. Mankyu Kim, Office of Planning & Strategy Director
Optimum Strategic Communications
Mary Clark, Supriya Mathur, Hollie Vile
SOURCE DelSiTech Ltd