Speciality chemicals business, Croda International, has agreed a new commercial arrangement with UK-based biopharmaceutical company, SiSaf.
Handshake agreement
This strategic deal involves the use and development of SiSaf’s patented bio-courier, ProSilic — a novel drug delivery technology. Additionally, under the terms of the agreement, Croda has acquired a minority shareholding in SiSaf.
Through ProSilic, customers of Croda will gain access to the next generation of targeted and controlled drug delivery, which can be tailored to meet specific needs. The technology is sustainable and uses biodegradable silicon particles to ensure stability, solubility and performance of a wide range of active ingredients across many delivery systems.
“The cultural fit between Croda and SiSaf, with a strong focus on innovation and sustainability, means that this strategic partnership will bring great benefits to our customers and their formulations,” explained Dr Nick Challoner, president Life Sciences, Croda. “We are hugely excited that through this investment we will be able to exclusively bring this novel, patented technology to our healthcare customers worldwide, enabling them to enhance the performance of their products.”
“This is more than an investment of capital. It is an investment in our belief that good science equals good business,” stressed Dr Suzanne Saffie-Siebert, founder and CEO of SiSaf. “Our strategic partnership with Croda will turn potential into reality much faster than SiSaf could have achieved alone. We are extremely proud to be working with such an impressive organisation to boost the development of ProSilic technology and together I am sure we will exceed the expectations of Croda’s customers worldwide.”
Croda’s investment represented a major contribution in the latest round of capital funding for SiSaf, enabling the company to accelerate a commercial route to market for its technology.