Northern Irish nanotechnology specialist SiSaf pulled in a first round of funding worth $3.5 million. The players investing in the company are Vickers Venture Partners, Exen Capital and Invest Northern Ireland.
SiSaf’s drug delivery platform is made of a porous nanosilicon material that boasts a large surface area, improving stability and increasing bioavailability of difficult compounds. The company is looking to partner with drug developers who want to improve their own treatments with controlled release and lower doses.
“After years of R&D, our technology is ready for full commercialization,” Suzanne Saffie-Siebert, who founded the company in 2008 and chairs the board, said. “Our drug delivery platform has matured into a genuine game changer and its potential applications are massive. Vickers and Exen have a great track record of building companies and their global network and expertise in the life science sector will be key to accelerating SiSaf’s growth.’’
SiSaf is planning to use the financing to continue its R&D efforts and expand into new markets, according to a release.
Vickers Vice Chairman Elkhalil Binebine said, “SiSaf’s technology changes the game in drug formulation by enabling the packaging and delivery of drugs that cannot otherwise be formulated.”