OctoPlus raises $7.6M in private placement
Dutch drug-delivery specialist OctoPlus NVsay it has completed an equity raising of 6.0 million euros ($7.6 million) through a private placement of ordinary shares with new and existing institutional investors.
Rather than seeking to discover novel drug candidates through early-stage research activities, OctoPlus focuses on the development of long-acting, controlled-release versions of known protein therapeutics, other drugs and vaccines on behalf of its clients.
The lead product incorporating its technology is the Phase II-stage drug candidate Locteron, a controlled-release formulation of interferon alfa for the treatment of chronic hepatitis C, which has been licensed to Biolex Therapeutics.
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