OctoPlus publishes Annual Report and AGM documents
OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO) announces today the
publication of its Annual Report 2011. The Annual Report is now available on the
Company´s website, www.octoplus.nl.
Annual Report 2011
During 2011, many of our clients and therefore also our business were negatively
impacted by the current economic environment; however, OctoPlus has made
significant progress in strengthening and professionalizing the organization,
which we expect to positively impact our business results in the years to come.
For the short term this has resulted in seven new contracts in 2011 and another
four new contracts early 2012. In addition, we are happy to report that for OP-
145 we have found two parties who are interested in further developing the
product for various indications, which may result in limited manufacturing
and/or licensing revenues.
Key topics in the Annual Report 2011 are:
* Our evaluation study for drug delivery into the eye with ESBATech, a
Novartis company, progressed into a full development agreement in February
* We expanded our efforts into a new strategic area, specialty generics, which
comprises the development of copies of long-acting injectable drugs.
It is our objective to create an operationally cash balanced business in the
medium term, whereby the fee-for-service business generates the cash flow to
support our infrastructure and provide the funds for co-investments and risk-
sharing in projects such as specialty generics where we can capture upside
potential for our shareholders. For the short term, we aim to generate at least
20% organic growth in revenues in 2012, contributing to our overall strategy to
build a company that is operationally cash-balanced, allowing a sustainable
business with a large upside.
Annual General Meeting of Shareholders to take place on 13 June in Leiden
The Annual General Meeting of Shareholders will take place at OctoPlus´
headquarters in Leiden on 13 June at 14:00. The meeting documents are now
available in the Investor Relations section of the website www.octoplus.nl.
During the meeting, the Supervisory Board will nominate three new Supervisory
Board members for appointment: Staf van Reet, Catherine Moukheibir and
Dharminder Singh Chalal.
For further information, please contact:
Rianne Roukema, Corporate Communications: telephone number +31 (71) 524 1071, or
send an e-mail to Investor Relations at IR@octoplus.nl.
OctoPlus is a specialty pharmaceutical company focused on the development and
manufacture of improved injectable pharmaceuticals based on our proprietary drug
delivery technologies that exhibit fewer side effects, improved patient
convenience and a better efficacy/safety balance than existing therapies.
OctoPlus also focuses on the development of long-acting, controlled release
versions of known protein therapeutics, peptides and small molecules, including
The clinically most advanced product incorporating our technology is
Locteron(®), a controlled release formulation of interferon alpha for the
treatment of chronic hepatitis C. OctoPlus licensed Locteron exclusively to
Biolex in October 2008. Locteron is being manufactured for Biolex by OctoPlus
and has completed Phase IIb clinical studies with superior clinical data versus
In addition, OctoPlus is a leading European provider of advanced drug
formulation and clinical scale manufacturing services to the pharmaceutical and
biotechnology industries, with a focus on difficult-to-formulate active
OctoPlus is listed on NYSE Euronext in Amsterdam under the symbol OCTO. For more
information about OctoPlus, please visit our website www.octoplus.nl.
This document may contain certain forward-looking statements relating to the
business, financial performance and results of the Company and the industry in
which it operates. These statements are based on OctoPlus N.V.´s current plans,
estimates and projections, as well as its expectations of external conditions
and events. In particular the words "expect", "anticipate", "predict",
"estimate", "project", "plan", "may", "should", "would", "will", "intend",
"believe" and similar expressions are intended to identify forward-looking
statements. We caution investors that a number of important factors, and the
inherent risks and uncertainties that such statements involve, could cause
actual results or outcomes to differ materially from those expressed in any
forward-looking statements. In the event of any inconsistency between an English
version and a Dutch version of this document, the English version will prevail
over the Dutch version.
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Source: OctoPlus N.V. via Thomson Reuters ONE