SOURCE: OctoPlus N.V.

February 12, 2009 05:29 ET

OctoPlus Signs Service Contract With Galapagos

LEIDEN, NETHERLANDS--(Marketwire - February 12, 2009) - OctoPlus N.V. ("OctoPlus" or "the Company") (Euronext: OCTO), the drug delivery company, announces today that it has signed a pharmaceutical development contract with a new client, Galapagos N.V. (Euronext: GLPG). The undisclosed contract value significantly contributes to OctoPlus' annual revenues.

Under the contract terms, OctoPlus will manufacture clinical trial material for Galapagos' Phase II study of Nanocort®, a liposome formulation of prednisolone. OctoPlus has progressed the scale-up and robustness of the production process of this complex liposomal product.

OctoPlus provides formulation development and clinical material manufacturing services to biotech and pharmaceutical companies worldwide. In addition to its expertise in formulation and manufacturing, OctoPlus offers its clients drug delivery technologies for the development of controlled release versions of existing or new drugs.

About OctoPlus

OctoPlus N.V. is a product-oriented biopharmaceutical 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. Rather than seeking to discover novel drug candidates through early stage research activities, 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 lead product incorporating our technology is Locteron®, a controlled release formulation of interferon alfa for the treatment of chronic hepatitis C, which has been licensed to Biolex Therapeutics and is being manufactured by OctoPlus. Locteron is currently in Phase II clinical studies.

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 N.V. and the industry in which it operates. These statements are based on OctoPlus N.V.'s 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.

PDF: http://hugin.info/137076/R/1289582/290476.pdf

Contact Information

  • For further information, please contact:

    Rianne Roukema
    Corporate Communications
    telephone number +31 (71) 524 1071
    e-mail IR@octoplus.nl