OctoPlus raises second round financing

Published: 1-Feb-2005


Dutch drug delivery and development company OctoPlus has raised €18.25m (US$23.85m) in a second financing round from an international group of investors. The investment was led by Life Sciences Partners II and S.R. One, and includes Innoven Partenaires (Paris, France); Fortis Private Equity (Brussels, Belgium) and SurModics (Minneapolis, MN, US).

The funds will primarily be used to further expand OctoPlus's portfolio of products based on its proprietary drug delivery platforms OctoDEX and PolyActive, which enable development of novel controlled release formulations for established and experimental biopharmaceutical drugs. Products in development at OctoPlus include controlled release formulations for recombinant human growth hormone and interferon-α.

'This funding allows us to further expand our proprietary product pipeline and is a major step in the next growth phase of OctoPlus,' said Dr Joost Holthuis, ceo of OctoPlus.

  

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