SOURCE: OctoPlus N.V.

April 07, 2011 01:46 ET

OctoPlus announces agreement with top-10 biopharmaceutical company for development of a controlled release formulation

LEIDEN, NETHERLANDS--(Marketwire - April 7, 2011) - OctoPlus N.V. ("OctoPlus" or the "Company") (AMS: OCTO) announces today that it has signed a feasibility agreement with a top-10 biopharmaceutical company to develop a controlled release formulation.

Under the contract announced today, OctoPlus will develop a controlled release formulation of an undisclosed peptide compound. If the evaluation is successful, the contract may progress to a full process development, manufacturing and licensing agreement. Financial terms of the current agreement are not disclosed.

About OctoPlus

OctoPlus is a drug delivery service company committed to the creation of improved pharmaceutical products that are based on OctoPlus' proprietary drug delivery technologies and have fewer side effects, improved patient convenience and a better efficacy/safety balance than 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.

Click here for the press release in PDF format:

http://hugin.info/137076/R/1504141/439027.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: OctoPlus N.V. via Thomson Reuters ONE

[HUG#1504141]

Contact Information

  • For further information, please contact:
    Rianne Roukema
    Corporate Communications
    telephone number +31 (71) 524 1071
    e-mail: Investor Relations at Email Contact