OctoPlus NV has successfully completed an equity raising of €6 million through a private placement of ordinary shares with new and existing institutional investors.
The company specialises in developing improved formulations of existing drugs using its proprietary drug delivery technologies. It claims these have fewer side effects, improved patient convenience and a better efficacy/safety balance than existing therapies.
The lead product is Locteron, a controlled release formulation of interferon alfa for the treatment of chronic hepatitis C, which is currently in Phase II clinical studies.
In addition, OctoPlus provides drug formulation and clinical scale manufacturing services to the pharmaceutical and biotechnology industries, specialising in difficult-to-formulate active pharmaceutical ingredients.