OctoPlus Wins Expansion of Drug Delivery Evaluation Contract With Existing Client
Tue, 09/08/2009 - 4:39am
OctoPlus N.V., the drug delivery company, has won an expansion of a drug delivery technology evaluation contract with an existing client, a global pharmaceutical company. In 2008 and 2009 OctoPlus performed preliminary feasibility work for this client and with the results from these studies the client has decided to proceed with the evaluation of OctoPlus' technology for a product candidate in its pipeline. In October last year OctoPlus announced a strategic focus on developing controlled release versions of existing or new drugs for clients, in addition to providing general formulation development and clinical material manufacturing. This is the fourth compound in 2009 for which OctoPlus will work on a controlled release formulation. Under the contract announced today, OctoPlus will evaluate the feasibility of a controlled release formulation that combines the client's product candidate with OctoPlus' proprietary drug delivery technology. If the evaluation is successful, the contract may progress to a full process development, manufacturing and licensing agreement.