OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO), the drug delivery company, announces today that it has won an expansion of a drug delivery technology evaluation contract with an existing client, a top-5 global pharmaceutical company. OctoPlus has performed feasibility work for multiple compounds of this client and the client has now decided to proceed with the evaluation of OctoPlus' PolyActive® technology for an additional product candidate in its pipeline.
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.