Octoplus raising new money

Drug delivery specialist OctoPlus NV the drug delivery and development company, is to raise Euro 25 million in a funding round.

The company, which is listed on Euronext in Amsterdam, intends to use the proceeds for the further development of the lead product is Locteron, a controlled-release formulation of interferon alfa for the treatment of chronic hepatitis C, which is currently in  Phase IIa clinical study with Locteron.

Further back in the pipeline is a treatment for chronic middle ear infection, which is in Phase II clinical development, a pre-clinical GLP-1 analogue product candidate for the treatment of diabetes and two pre-clinical-stage single-shot vaccines.

In addition to its in house portfolio, OctoPlus provides drug formulation and clinical scale manufacturing services.