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IsoTis Completes Transfer of PolyActive IP Estate to OctoPlus
Wednesday, April 25, 2007
Irvine, CA -- IsoTis, Inc. (NASDAQ: ISOT), the orthobiologics company, today announced it has completed the transfer of the rights associated with its PolyActive technology to OctoPlus (Euronext: OCTO), a drug delivery and development company, in exchange for an up-front payment of approximately $1.7 million and future royalty payments on sales of pharmaceutical products based on the PolyActive technology.
Under the agreement, IsoTis retains the rights to manufacture, market, and sell orthopedic plugs and cement restrictors including those related to its marketed product SynPlug®, based on the PolyActive technology.
About IsoTis, Inc.
IsoTis is a leading orthobiologics company that develops, manufactures and markets proprietary products for the treatment of musculoskeletal diseases and disorders. IsoTis' current orthobiologics products are bone graft substitutes that promote the regeneration of bone and are used to repair natural, trauma-related and surgically-created defects common in orthopedic procedures, including spinal fusions. IsoTis' current commercial business is highlighted by its Accell line of products, which the company believes represents the next generation in bone graft substitution.
OctoPlus N.V. is a product-oriented biopharmaceutical company committed to the development of improved pharmaceutical products that are based on its proprietary drug delivery technologies and have fewer side effects, improved patient convenience and a better efficacy/safety balance than existing therapies. Rather than seeking to discover novel drug candidates through early stage research activities, OctoPlus focuses on the development of long-acting, controlled release versions of known protein therapeutics and other drugs. OctoPlus is also a leading provider of advanced drug formulation and clinical scale manufacturing services to the pharmaceutical and biotechnology industry, with a focus on difficult to formulate active pharmaceutical ingredients in injectable formulations. The earnings and expertise that OctoPlus derives from rendering formulation and manufacturing services help to support its own drug development programs.
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