TURKU, Finland, May 21, 2019 /PRNewswire/ -- DelSiTech Ltd, a Finnish drug delivery and drug development company, today announced significant grant funding to support the development of long-acting controlled release formulations for family planning as well as for human immunodeficiency virus (HIV) antivirals, from the Bill & Melinda Gates Foundation.

DelSiTech is the global leader in advanced silica-based, sustained and controlled release delivery technologies for administration of injectable, implant and topical eye drop dosage forms. Its technology offers long-acting injectable medical solutions to enable longer treatment periods and fewer injections.

Dr. Lasse Leino, CEO of DelSiTech, said: "In low- and middle-income countries, there are still tens of millions of women who need support for family planning, and individuals at risk of HIV infection in need of better prevention measures. DelSiTech's mission is use our technology to develop novel products that bring the life-altering relief, to those in most need. This grant will be used to provide long lasting and safe contraception for women, and for the development of long acting HIV therapy in order to overcome adherence issues. We are proud to be working on innovative solutions for these underserved populations with the support of the Bill & Melinda Gates Foundation"

DelSiTech^TM Silica Matrix technology allows the drug substances, ranging from small molecules to biologics to be encapsulated in matrix microparticles, providing stability for the drug substance and a true controlled long-acting release based on the matrix dissolution. This allows the injection to release a stabilized product for months or over a year.

About DelSiTech Ltd

DelSiTech Ltd. located in Turku, Finland, is the leading technology specialist in biodegradable silica-based controlled release of small molecule drugs, biopharmaceuticals and viral vectors. It develops and commercializes its proprietary, drug delivery technology in collaboration with a number of pharma and biotech companies to turn their ideas into novel drug products. In addition, the Company is developing its own pipeline of supergeneric/505(b)(2) products to address significant unmet medical and commercial needs. Its lead product, a long acting antiviral product for hepatitis B, will enter the clinic in 2019. For more information, see www.delsitech.com.

DelSiTech^TMSilica Matrix

This is an advanced delivery technology for parenteral and local administration of injectable and implant dosage forms as well as eye drops. The proprietary technology is based on silica (SiO₂) matrix into which the molecule or therapeutic agent of interest is embedded using a process called sol-gel. The resulting Matrix is non-porous, biocompatible and it can be designed to biodegrade by matrix dissolution at the desired rate to ensure a tightly controlled release of the active substance over periods of days up to many months or a year.

SOURCE DelSiTech