Octoplus publishes first quarter business update
(Thomson Reuters ONE) -
Leiden, the Netherlands, 19 May 2010 - OctoPlus N.V. ("OctoPlus" or the
"Company") (Euronext: OCTO), the drug delivery company, publishes a business
update for the first quarter of 2010 today.
Highlights
Successful development of Locteron®
* Locteron Phase IIb data presented at EASL demonstrates that Locteron dosed
every other week consistently achieves a reduction in flu-like side effects
while maintaining antiviral efficacy comparable to the weekly dosed standard
of care, providing compelling proof that Locteron offers a significant
improvement in interferon therapy
* Positive Phase IIb data on Locteron further validates the clinical benefit
of OctoPlus' PolyActive® drug delivery technology
* Locteron's Phase IIb study expected to be successfully completed in 2010
Advancing and broadening product pipeline
* Advancing our pipeline of a number of products incorporating OctoPlus'
PolyActive drug delivery technology on behalf of major biotech and
pharmaceutical companies
* Expecting to significantly broaden our product pipeline in the coming year,
as our drug delivery expertise has been validated by the positive results of
Locteron
Q1 Financials
* Revenues coming from drug delivery programs and services (excluding
Locteron) at the same level as the same period last year
* Revenues coming from Locteron in line with our expectations but
substantially lower than the same period last year as development and
manufacturing for phase IIb is completed
* Our expertise and knowledge from microsphere development and clinical
manufacturing attracts significant interest from multiple companies,
resulting in a stronger and broader acquisition pipeline of new projects
than at any time in the company's history
* Strong reduction in costs achieved compared with same period last year
following the successful completion of the efficiency measures announced in
September 2009
Simon Sturge, CEO of OctoPlus comments: "I am encouraged by the growing adoption
by the biotech and pharmaceutical industries of OctoPlus' PolyActive® technology
which is a continued endorsement of our strategy. The positive results of
Locteron® show the broad potential of our drug delivery technology. Although the
environment remains volatile, the progress in the first quarter is encouraging."
For further information, please contact:
Rianne Roukema, Corporate Communications: telephone number +31 (71) 524 1071, or
send an e-mail to Investor Relations atIR(at)octoplus.nl
About OctoPlus
OctoPlus is a drug delivery service 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. 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 clinically most advanced product incorporating our technology is Biolex
Therapeutics' lead product Locteron(®), a controlled release formulation of
interferon alpha for the treatment of chronic hepatitis C. OctoPlus licensed
Locteron exclusively to Biolex in October 2008. Locteron is being manufactured
for Biolex by OctoPlus and is currently in Phase IIb 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 and the industry in
which it operates. These statements are based on OctoPlus' 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.
[HUG#1417006]
Click here for the press release in PDF : http://hugin.info/137076/R/1417006/367527.pdf
Unternehmensinformation / Kurzprofil:
Datum: 19.05.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 21106
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contact information:
Town:
Leiden
Kategorie:
Business News
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