As per the agreement, OctoPlus is expected to take up the responsibility to develop a controlled release version of a product that is currently in clinical development using its proprietary PolyActive drug delivery technology.
Under the agreement, the client is expected to reimburse OctoPlus for its activities.
OctoPlus claimed that PolyActive is a biodegradable polymeric drug delivery system. Its biodegradability, extensive safety record and linearrelease properties make PolyActive an excellent technology for the controlled release of proteins and lipophilic small molecules.
Additionally, PolyActive based products can be used for both local and systemic administration, and have applications in pharmaceutics and medical technology.
Simon Sturge, CEO of OctoPlus, says: “We continue to explore opportunities where OctoPlus’ unique skills in microsphere development and production can be best exploited.”