Market Overview

Croda Invests in SiSaf's Novel Bio-Courier Technology


Croda International Plc (‘Croda') and SiSaf Ltd (‘SiSaf') have today
announced an exciting new strategic partnership. Croda, the name behind
high performance ingredients and technologies that are relied on by
industries and consumers everywhere, has agreed a commercial arrangement
with SiSaf, a pioneering UK based bio-pharmaceutical company. The
arrangement involves the use and development of SiSaf's patented
bio-courier, ProSilic®, a novel drug delivery technology.
Croda has also acquired a minority shareholding in SiSaf.

ProSilic will give Croda's customers access to the next generation of
targeted and controlled drug delivery, which can be tailored to meet
their specific needs, whilst offering exceptional safety and
versatility. This sustainable technology uses biodegradable silicon
particles to improve stability, solubility and ultimately the
performance of a wide range of active ingredients across many delivery

Croda's investment is a major contributor to SiSaf's latest round of
capital funding that will enable them to accelerate a commercial route
to market for this unique technology. SiSaf will also benefit from
Croda's very successful global trading model, further supported by its
leading R&D and regulatory expertise. While the partnership will
primarily focus on Croda's Health Care market, the diversity of ProSilic
technology will see research projects take place in much wider

Dr Nick Challoner, President Life Sciences, Croda, said; "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. We are hugely excited
that through this investment we will be able to exclusively bring this
novel, patented technology to our Health Care customers worldwide,
enabling them to enhance the performance of their products."

Dr Suzanne Saffie-Siebert, Founder and CEO of SiSaf, said; "This is more
than an investment of capital. It is an investment in our belief that
good science equals good business. 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."

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About Croda:

Established in 1925, Croda is the name behind high performance
ingredients and technologies in some of the world's biggest and most
successful brands: creating, making and selling speciality chemicals
that are relied on by industries and consumers everywhere.

They have a network of over 4,300 passionate and committed employees,
working together as one global team across manufacturing sites and
offices in 37 countries. Within the Health Care market, Croda offers
high purity pharmaceutical excipients and in-house formulation
expertise, making them the ideal solutions provider with whom to
navigate drug formulation challenges. Their product portfolio is proven
to solubilise, stabilise and deliver the most challenging of active
pharmaceutical ingredients, while high investment in GMP and multi-site
EXCiPACT accreditation demonstrates confidence in both excipient quality
and supply chain security.

About SiSaf:

SiSaf is a UK Headquartered commercial stage bio-pharmaceutical company
pioneering bio-courier technology, a novel method of drug delivery
offering exceptional safety and versatility.

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