OctoPlus gains full rights to PolyActive drug delivery technology from IsoTis
OctoPlus N.V. announced that it reached agreement with IsoTis, Inc. to obtain additional rights to its PolyActive(TM) drug delivery technology, the technology used in OctoPlus' lead product Locteron(TM). Locteron is a controlled release formulation of interferon alfa for the treatment of chronic hepatitis C, currently in phase IIa studies.
Under the revised agreement, OctoPlus obtains full rights to the PolyActive technology and its intellectual property in certain strategic areas, including additional applications in orthopedics. Furthermore, the contract has financial benefits for OctoPlus as it includes an upfront license fee of EUR 1.25 million, which will decrease future payments on OctoPlus' revenues using PolyActive.
OctoPlus had gained access to PolyActive from IsoTis in 2003, when it acquired IsoTis' affiliate Chienna B.V. The license agreement covered the intellectual property rights to the technology in the areas of pharmaceuticals and medical device coatings. Under the revised agreement, OctoPlus gains control over the use and manufacturing of the technology to include all applications in controlled release pharmaceuticals, medical coatings and orthopedics, and include all intellectual property covering the technology in these areas. IsoTis retains the rights to manufacture, market and sell orthopedic plugs and cement restrictors including those related to its marketed product SynPlug(TM).
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