SurModics Inc (SRDX): OctoPlus to Conduct Drug-Delivery Feasib...

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Re: Democritus_of_Abdera post# 2132

Wednesday, 11/12/2008 3:24:12 AM

Wednesday, November 12, 2008 3:24:12 AM

OctoPlus to Conduct Drug-Delivery Feasibility Study for Unnamed US-Based Biotech

http://biz.yahoo.com/iw/081112/0451652.html

›Wednesday November 12, 2:18 am ET

LEIDEN, NETHERLANDS--(MARKET WIRE)--Nov 12, 2008 -- As part of the Company's recently announced strategic focus on developing controlled release formulations for clients, OctoPlus N.V. ("OctoPlus" or "the Company") (Euronext: OCTO) announces today that it has signed a new drug delivery technology evaluation contract with a US-based biotech company.

On 6 October, OctoPlus announced a licensing agreement with Biolex Therapeutics, to license Locteron®, a product based on OctoPlus' PolyActive® drug delivery technology, to Biolex. OctoPlus' strategy will increasingly focus on developing controlled release versions of existing or new drugs for clients, in addition to providing general formulation development and clinical material manufacturing. Currently, OctoPlus is working on five projects to develop a controlled release formulation for a client.

Under the contract announced today, OctoPlus will evaluate the feasibility of a controlled release formulation that combines the active ingredient of the client with OctoPlus' proprietary drug delivery technology. If the evaluation is successful, the contract may progress to a full process development, manufacturing and licensing agreement.‹

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