Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.OctoPlus has granted Green Cross Corporation, a pharmaceutical company in the Republic of Korea, an exclusive license to develop and market OP-145 for chronic middle ear infection for the Korean market.
Subscribe to our email newsletter
OP-145 is designed to break the recurring cycle of infection causing chronic middle ear infection and is currently in phase II trials. After successful completion of this trial, OctoPlus plans to conduct a phase III study. Green Cross will be responsible for the execution of the Korean phase III study and for market introduction and commercialization of the product in the Republic of Korea.
Under the terms of the agreement, OctoPlus will retain the manufacturing rights to the bulk material and will be responsible for pharmaceutical development of the product. Green Cross will pay OctoPlus an upfront payment, milestone payments and royalties. Financial details were not disclosed.
“This partnership underpins the commercial value of the product and is an important next step towards a worldwide market introduction of OP-145 for chronic middle ear infection,” stated Joost Holthuis, CEO of OctoPlus.