[ad_1]
– A license and collaboration agreement has been signed between OliX and The A for the OLX301A program, a new treatment for age-related dry and wet macular degeneration.
– OliX will receive an upfront payment of 2 million eurosand eligible to receive milestones, plus royalties for development and commercialization in Europe , Middle East and Africa.
– OliX continues to hold OLX301A rights for the United States and Asia.
Suwon, South Korea, March 18, 2019 / PRNewswire / –
OliX Pharmaceuticals, Inc. (Kosdaq: 226950), a leading developer of RNAi-based therapies, announced today the signing of a licensing and collaboration agreement with The Open Innovation, subsidiary of Laboratoires Théa SAS ("Théa"), an independent French pharmaceutical company Europe dedicated to ophthalmology, to develop and market OLX301A.
Under this agreement, OliX receives an initial non-credible and non-credible payment of 2 million euros and is eligible to receive milestone payments upon completion of clinical milestones, plus royalties for development and marketing.
Dong-ki Lee, founder and CEO of OliX, said: "OliX's cp-asiRNA platform technology is an optimal RNAi platform for the development of eye therapeutic therapies , which can bypbad the potential side effects of existing siRNA technology The collaboration with Thea proves that OliX's RNAi ophthalmic RNA platform has been recognized in the global pharmaceutical market and we will continue to develop pipelines for eye diseases. "
Thea has obtained the license fees for the OLX301A program in the EU countries, Middle East and Africa. OliX continues to hold OLX301A rights for the United States and Asia.
Age-related macular degeneration, diagnosed either dry or wet, is a deterioration of the retina and deeper layers of the eye that may result in loss of vision. Although effective treatments for wet AMD exist, the treatment load can lead to suboptimal vision results for many patients over time and no cure for dry AMD has yet been developed. OliX's OLX301A program is a first-line treatment that cures dry, wet AMD and should be registered for FDA approval of IND for the Phase 1 clinical trial.
About Age-Related Macular Degeneration (AMD)
- Occurs when the small central part of the retina, called macula, deteriorates
- The leading cause of severe vision loss in people over 60 in developed countries
- Two types: wet (10%) and dry (90%) AMD
- In the United States, 175 million patients with AMD in 2014 (Source: All About Vision, Understanding AMD 2014)
- World market of wet AMD: $ 7.65 billion in 2015
- By 2025, the AMD market should be dry: $ 6.58 billion (Source: Visiongain 2016)
- 98% of patients with wet AMD reported the onset of dry AMD in seven years (Source: Ophthalmology, 2012 Jul; 119 (7): 1388-98., Ophthalmology, Nov. 2013; 120 (11) : 2292-9).
- There are unmet medical needs for the development of a drug that can treat dry and wet AMD.
- Should reach approx. sure 11.6 B from here 2026 (Source: Global Data 2018, 7 major countries)
Thea Open Innovation, is part of THEA S.A.S Laboratories
The laboratories THEA S.A.S is a pharmaceutical industry specialized in ophthalmology. The group is leader in several therapeutic clbades as well as in the field of eye drops without preservatives. Théa Laboratories is an innovative company dedicated to the development of high quality products to support ophthalmic care and eye health in more than 70 countries.
Learn more: https://www.laboratoires-thea.com/en
OliX Pharmaceuticals, Inc.
OliX is a clinical stage pharmaceutical company developing treatments against a variety of disorders by negatively regulating the expression of genes responsible for the disease, based on its own patented RNAi technology. The Company is currently developing new therapeutic programs for the treatment of various diseases with unmet medical needs, including hypertrophic scar, dry and wet age-related macular degeneration (AMD), subretinal fibrosis and fibrosis. Idiopathic pulmonary
Learn more: http://www.olixpharma.com/main/main.php
Contact:
OliX Pharmaceuticlas, Inc.
JOHN YOHAN LEE, Communication
[email protected]
SOURCE OliX Pharmaceuticals, Inc.
Source link
