OctoPlus N.V., the drug delivery company, announces that it has signed an agreement with Novartis relating to the use of OctoPlus’ controlled release technology.

Under the contract announced today, OctoPlus will develop, up to in vivo feasibility, a controlled release formulation of an undisclosed compound using its proprietary drug delivery technology PolyActive. Novartis will fully reimburse OctoPlus for its activities under the agreement. Further financial terms of the agreement are not disclosed.

Simon Sturge, CEO of OctoPlus, says: “I am delighted to see our technology being evaluated by such a prestigious company as Novartis. This along with the recent data on Locteron in more than 175 patients continues to build the strong support behind our PolyActive controlled release technology and our capabilities in this area.”

OctoPlus is a drug delivery company committed to the creation of improved pharmaceutical products that are based on OctoPlus’ proprietary drug delivery technologies and have fewer side effects, improved patient convenience and a better efficacy/safety balance than existing therapies.