OctoPlus, a drug delivery company, has entered into a feasibility agreement with a US based pharmaceutical firm regarding the usage of OctoPlus' controlled release drug delivery technology.

As per the pact, OctoPlus is expected to develop a controlled release formulation of an undisclosed compound using its proprietary drug delivery technology PolyActive, a biodegradable polymeric drug delivery system.

OctoPlus claimed that its biodegradability, safety record and linear release properties make PolyActive an appropriate technology for the controlled release of proteins and lipophilic small molecules.

If the evaluation is successful, both the companies are further planning to sign a full process development, manufacturing and licensing agreement.