Jun 30 2004
OctoPlus, a drug delivery and development company, announced today that it has granted SurModics, Inc., a leading provider of surface modification and drug delivery solutions to the medical device industry, an option to acquire an exclusive license to two novel classes of biodegradable polymers for use in the site specific delivery of drugs from medical devices. The agreement is an important step for OctoPlus to accelerate the proliferation of its proprietary polymer platforms, through SurModics, in the development of drug eluting medical devices, for example, drug eluting stents.
It complements OctoPlus’ internal focus on development of controlled release formulations for the pharmaceutical industry. Biodegradable polymers have the ability to be combined with one or more drugs and applied to a medical device, yet are naturally degraded by the body over time. The two polymer families covered under this agreement are PolyActive™ and OctoDEX™, which are currently under pre-clinical and clinical evaluation by OctoPlus for use as pharmaceutical drug delivery products.
PolyActive™ is a biodegradable multiblock polymeric drug delivery system based on two well-known polymers. Its biodegradability, extensive safety record and tunable release properties make it an excellent choice for the controlled release of proteins and hydrophobic small molecule drugs. In particular, PolyActive™ has been used in thousands of patients as part of two FDA approved products, and has an existing FDA Master File.
OctoDEX™ is a delivery system for the controlled release of proteins and large particles such as liposomes and antigens and is based on cross-linked dextran microspheres. OctoPlus recently reported successful completion of Phase I studies for a sustained release formulation of human growth hormone based on OctoDEX™.
“We are very pleased to enter into this agreement with SurModics, a well-established and successful player in the medical devices arena”, stated Dr. Joost Holthuis, CEO of OctoPlus. “This partnership strongly complements our activities in developing state-of-the-art controlled release drug delivery systems for the pharmaceutical industry. We believe that by combining the strengths of our two companies, we will maximize the scientific and commercial potential of our proprietary biodegradable polymers in the rapidly growing drug eluting medical devices field.”
“Our customers are increasingly interested in exploring the use of biodegradable polymers for site specific drug delivery – whether as coatings on medical devices, or as devices that are fully biodegradable. We are excited about the opportunity to join forces with OctoPlus to address these significant new applications with our customers,” said Bruce Barclay, President and COO of SurModics.
For more information on biodegradable polymers, click here.