For controlled release product for ophthalmic indications
OctoPlus has entered into an agreement with ESBATech, a Biomedical Research Unit of Alcon, based in Zurich, Switzerland, for the development of a controlled release formulation for one of its proprietary biological compounds for ophthalmic applications.
The agreement includes process development, scale-up and manufacturing for pre-clinical studies.
Financial details were not disclosed, but the Dutch firm said it would make a material contribution to its annual revenues in 2011.
This drug delivery technology evaluation project started in 2009. OctoPlus evaluated the feasibility of a controlled release formulation that combines an ESBATech proprietary eye care ingredient with the OctoPlus drug delivery technology PolyActive.
Jan Egberts, chief executive of OctoPlus, said: ‘I am delighted to see the success of our technology further validated in a product from such a prestigious company as ESBATech. We look forward to bringing this product to the next phase for ESBATech.
‘In addition to Locteron, this programme is now next in line in the commercialisation of the PolyActive controlled release technology.’