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BioTurku company DelSiTech signs License Agreement with Bayer Innovation

26.01.2007 - (idw) ScanBalt

DelSiTech's Proprietary DelSiTech ® Drug Delivery Technology is paving the way for Wound Care Business
Turku (Finland) - DelSiTech Ltd and Bayer Innovation GmbH announced today that they entered into a license agreement. The agreement enables Bayer the exclusive rights to use the unique and proprietary DelSiTech ® drug delivery technology for fiber applications in the fields of wound care and certain other applications. Turku (Finland) - DelSiTech Ltd and Bayer Innovation GmbH announced today that they entered into a license agreement. The agreement enables Bayer the exclusive rights to use the unique and proprietary DelSiTech ® drug delivery technology for fiber applications in the fields of wound care and certain other applications.

Under the terms of the agreement DelSiTech will receive a signing fee, milestone payments and further royalties for future sales of the products using the DelSiTech technology. The agreement contains also an option for further collaboration.

Dr. Harry Jalonen, CEO of DelSiTech said: "We are proud to have a global player like Bayer as our customer. Wound care is an utmost interesting indication area with high unmet medical need. At the same time we are happy to find new applications for our technology, which originally was developed for controlled drug release".

Dr. Detlef Wollweber, managing director of Bayer Innovation said: "This agreement is important for Bayer Innovation because it enables the complementation of our technologies with the respective drug delivery technology of DelSiTech, as such paving the way for broad applications of our pioneering new possibility for wound treatments".

The DelSiTech ® drug delivery technology is a result of a cross-disciplinary project including top researchers from the University of Turku and the Swedish-speaking University in Turku called Åbo Akademi. The Biomaterial Research Group includes dentists, physicians, chemists, engineers and pharmacists and is globally one of the largest of its kind in the research of bioactive glass, sol-gel and glass fiber reinforced materials mainly for dental, orthopedic and drug delivery applications.

After the transfer of the technology, DelSiTech has started the industrialization process of the same. By combining the in depth know-how and IPR of silica chemistry with the newest nano technology it has been possible to encapsulate and controllably release extremely labile viruses and proteins to clinically useful applications. As the result of this work DelSiTech is today the leading company in the world in the field of controlled delivery of viruses. This application is expected to become soon a highly interesting and important field e.g. in the treatment of cancer.

It has been reported in several major international scientific congresses and publications that this technology works well in animal with small molecular drugs and live virus. The technology is protected by 9 international patent families. DelSiTech has today several projects under development with companies in Europe, USA and Asia.

About DelSiTech Ltd.: DelSiTech is a drug delivery company headquartered in Turku, Finland. DelSiTech Ltd. It started the operations in the late 2003. DelSiTech Ltd specializes in a unique and proprietary silica-based drug delivery technology DelSiTech ® for controlled release with applications in small molecular drugs and biopharmaceuticals: proteins, polysaccharides (heparin) and viruses. The main use is for implants, subcutaneous and intra-muscular administration mainly for cancer, neurological and orthopedic applications.

Additional information on the company can be found on the Internet at:
http://www.delsitech.com

About Bayer Innovation GmbH:
Bayer Innovation GmbH (BIG), headquartered in Düsseldorf, is a wholly owned subsidiary of Bayer. BIG evaluates and develops new fields of business for the Bayer Group that are related to Bayer's core competencies of health care, nutrition and innovative materials and complement its current key areas of innovation and business.

Additional information on the company can be found on the Internet at:

http://www.bayer-innovation.com

For more information please contact

Dr. Harry Jalonen, CEO
DelSiTech Ltd
phone +358 2 4788 640
mobile +358 50 336 7972
Email harry.jalonen@delsitech.com

Contact:
Dr. Katharina Jansen
Bayer AG
phone +49 214 30 33243
Email: katharina.jansen.kj@bayer-ag.de
Weitere Informationen: http://w.bayer-innovation.com
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