OctoPlus in $149M deal with Biolex

OctoPlus, a Dutch drug delivery company, has signed an exclusive agreement to license its share of the commercial rights to its lead product Locteron to co-development partner Biolex Therapeutics, based in North Carolina, USA. OctoPlus will remain a partner in the process development and manufacture of Locteron, which combines its proprietary PolyActive drug delivery technology with BLX-883, a recombinant alfa interferon produced by Biolex, but without having to make the investments for the upcoming late-stage clinical program.

The proceeds of the deal include, among others, upfront and milestone payments that amount to a total of $149.0 million in the coming years, and royalties on future Locteron sales. The upfront fee and short-term milestones comprise the first significant revenues that OctoPlus has generated from the commercialization of its PolyActive drug-delivery technology. In addition to the cash payments, OctoPlus will receive an equity stake in Biolex of up to 3.0%.