OctoPlus' external first-half revenue rises 30%
OctoPlus' consolidated revenues, excluding inter-segment revenues for the development of Locteron (interferon alfa), for the first half of 2008, increased 30% year-on-year to 3.7 million euros ($5.0 million).
The Dutch drug delivery specialist says that revenues from the development its lead product candidate, the hepatitis C drug Locteron, saw inter-segment income from formulation development and clinical trial material manufacturing rise 28% to 5.8 million euros.
During the year so far, the company received convertible bridge loans from Biolex and its existing shareholders Life Sciences Partners and SR One totalling 6.75 million euros. Earlier this month (Marketletter October 7), OctoPlus licensed its share of the commercial rights to lead product Locteron to co-development partner Biolex, receiving $11.0 million upfront, offsetting its part of the loan, and up to 108.0 million euros in future milestones, plus royalties.
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