OctoPlus expands development agreement with ESBATech on controlled release product for ophthalmic indications
Leiden, the Netherlands - OctoPlus N.V. (“OctoPlus” or the “Company”) (Euronext: OCTO) announces today that it has signed a contract with ESBATech, an Alcon Biomedical Research Unit, to develop a controlled release formulation for one of its proprietary biological compounds for ophthalmic applications.
The project includes process development, scale-up and manufacturing for pre-clinical studies. Financial details are not disclosed, but the project will make a material contribution to our annual revenues in 2011. In addition to Locteron®, this programme will be part of our portfolio of projects utilising our proprietary technologies.
This drug delivery technology evaluation project started in 2009. OctoPlus evaluated the feasibility of a controlled release formulation that combines a proprietary eye care ingredient of ESBATech with our drug delivery technology PolyActive®.
Jan H. Egberts, M.D., CEO of OctoPlus, says: “I am delighted to see the success of our technology further validated in a product from such a prestigious company as ESBATech. We look forward to bringing this product to the next phase for ESBATech. Ophthalmology is a rapidly growing therapeutic area and there is a strong and obvious need to reduce the injection frequency of drugs that are administered into the eye. In addition to Locteron, this programme is now next in line in the commercialisation of the PolyActive controlled release technology.”
OctoPlus is a specialty pharmaceutical company committed to the creation of improved pharmaceutical products that are based on OctoPlus’ proprietary formulation technologies and have fewer side effects, improved patient convenience and improved efficacy/safety balance over existing therapies. OctoPlus focuses on the development of long-acting, controlled release versions of known protein therapeutics, other drugs, and vaccines on behalf of its clients.
The clinically most advanced product incorporating our technology is Biolex Therapeutics’ lead product Locteron®, a controlled release formulation of interferon alpha for the treatment of chronic hepatitis C. OctoPlus licensed Locteron exclusively to Biolex in October 2008. Locteron is being manufactured for Biolex by OctoPlus and has recently completed Phase IIb clinical studies with superior clinical data versus current treatment.
In addition, OctoPlus is a leading European provider of advanced drug formulation and clinical scale manufacturing services to the pharmaceutical and biotechnology industries, with a focus on difficult-to-formulate active pharmaceutical ingredients.
OctoPlus is listed on Euronext Amsterdam by NYSE Euronext under the symbol OCTO. For more information about OctoPlus, please visit our website www.octoplus.nl.
This document may contain certain forward-looking statements relating to the business, financial performance and results of OctoPlus and the industry in which it operates. These statements are based on OctoPlus’ current plans, estimates and projections, as well as its expectations of external conditions and events. In particular the words “expect”, “anticipate”, “predict”, “estimate”, “project”, “plan”, “may”, “should”, “would”, “will”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. We caution investors that a number of important factors, and the inherent risks and uncertainties that such statements involve, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements. In the event of any inconsistency between an English version and a Dutch version of this document, the English version will prevail over the Dutch version.
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