(Leiden, The Netherlands), a drug delivery and development
company announced today that it has raised Euro 18.25
million (US$ 23.85 million) in a second financing
round from an international group of investors. The
investment was led by Life Sciences Partners II B.V.
(LSP; Amsterdam, The Netherlands) and S.R. One, Ltd.
(West Conshohocken, PA, USA). Other investors participating
in this round of financing are Innoven Partenaires
(Paris, France), Fortis Private Equity (Brussels,
Belgium) and SurModics, Inc. (Minneapolis, MN, USA).
Fortis Bank acted as OctoPlus' exclusive financial
advisor and placement agent in the financing.
funds will be used primarily to further expand OctoPlus’
portfolio of products based on its proprietary drug
delivery platforms OctoDEX™ and PolyActive™. These
platforms enable development of novel controlled release
formulations for established and experimental biopharmaceutical
drugs. Controlled release formulations reduce injection
frequency and increase patient comfort and compliance.
They can also improve safety and efficacy of a drug
by avoiding large fluctuations of drug levels in the
blood and achieving prolonged high concentrations
in target organs and tissues. Products in development
at OctoPlus address a multi-billion US$ market opportunity
and are amongst others controlled release formulations
for recombinant human growth hormone and interferon-alpha.
are very pleased with both the level of funding as
well as the high quality of investors participating
in this financing round”, commented Joost Holthuis,
Ph.D., Chief Executive Officer of OctoPlus. “This
funding allows us to further expand our proprietary
product pipeline and is a major step in the next growth
phase of OctoPlus”.
Kuijten, M.D., Ph.D., Partner at Life Sciences Partners,
commented, “LSP is very pleased with its role as lead
investor in OctoPlus’ second financing round. The
company has made a smooth transition from a contract
research organization to a full-fledged drug development
company. We are very pleased to become involved with
a company with a talented and experienced management
team, with a very promising technology platform and
a basket of promising product candidates. All of us
are committed to building a premier biotechnology
Smith, Ph.D., General Partner at S.R. One commented,
"OctoPlus is poised to become a leader in the
development of sustained release drug delivery technology
and S.R. One is excited to be a co-lead in this financing
with LSP. We are looking forward to working with Joost
Holthuis and his team".
OctoPlus OctoPlus is a product-oriented drug delivery
company that focuses on the development of innovative
drug delivery systems to build a pipeline of product
candidates. OctoPlus is also an internationally established
provider of pharmaceutical development services and
GMP manufacturing for pharmaceutical and biotechnology
companies. The company is located in Leiden, The Netherlands.
LSP Life Sciences Partners (LSP) is a leading European
Life Science venture capital fund, providing private
equity capital to early stage life sciences companies.
Based in Amsterdam and Munich, LSP’s management has
focused for over 15 years on investing in human life
sciences. LSP’s management has invested in more than
35 Biotech start-ups, many of which went public or
merged with leading companies in the industry. By
carefully balancing risks, and by adding value as
lead investor and board member of most portfolio companies,
LSP’s management has established itself among the
top tier players in the industry. With a strong management
team and an extensive scientific and financial network
in place, LSP currently has € 170 million in capital
under management (www.lspvc.com).
S.R. One S.R. One, Limited is an evergreen venture
capital fund with $200 million under management, established
in 1985. It is a wholly owned affiliate of GlaxoSmithKline,
one of the world’s leading health care companies.
S.R. One, Limited, invests in companies at all stages
of development that engage in all aspects of drug
discovery and development, including biologics, and
platform tools and technologies. For more information
on S.R. One, Limited, its staff and portfolio companies,
please visit the company’s website at www.srone.com.
further information please contact: Joost Holthuis,
Ph.D., Chief Executive Officer
31 (0) 71 5244044 Email: firstname.lastname@example.org Website:
20 January 2005