– License and Collaboration Agreement was signed between OliX and Théa for OLX301A program, a novel treatment for dry and wet age-related macular degeneration. – OliX to receive an upfront payment of 2 million euro, and eligible to receive milestones, plus royalty for the development and commercialization in Europe, Middle East and Africa. – OliX continues to hold the rights of OLX301A program for US and Asia.
SUWON, South Korea, March 18, 2019 /PRNewswire/ —
OliX Pharmaceuticals, Inc. (Kosdaq: 226950), a leading developer of RNAi therapeutics, has today announced that it has signed a license and collaboration agreement with Théa Open Innovation, part of the Laboratoires Théa S.A.S ("Théa") which is the leading French independent pharmaceutical company in Europe dedicated to ophthalmology, to develop and commercialize OLX301A.
Under the agreement, OliX receives a non-refundable and non-creditable upfront payment of 2 million euro and is eligible to receive milestone payments upon achievement of clinical milestones, plus royalty for the development and commercialization.
Dong-ki Lee, the founder and CEO of OliX, stated, "OliX’s cp-asiRNA platform technology is an RNAi platform optimal for the development of ocular therapeutics, which can circumvent potential side effects arising from the existing siRNA technology. The collaboration with Théa proves that OliX’s ophthalmology RNAi platform has been recognized in global pharmaceutical market, and we will continue to expand pipelines for eye diseases."
Théa has been granted licensing rights for OLX301A program in EU countries, Middle East and Africa. OliX continues to hold the rights of OLX301A program for US and Asia.
Age-related macular degeneration diagnosed as either dry or wet is deterioration of the retina and deeper layers of the eye that can lead to a loss of eye sight. While effective therapies for wet AMD exist, the treatment burden may lead to less than optimal vision outcomes for many patients over time and no cure for dry AMD has been developed yet. OliX’s OLX301A program is a first in class treatment which cure both wet and dry AMD and is expected to be registered for FDA approval of IND for phase 1 clinical trial.
About Age-Related Macular degeneration (AMD)
Occurs when the small central portion of the retina, known as the macula, deteriorates
The leading cause of severe vision loss in people over age 60 in developed countries
Two types: wet AMD (10%) & dry AMD (90%)
In USA, 175 million patients affected by AMD in 2014 (Source: All about vision, Understanding AMD 2014)
Global wet AMD market: $ 7.65B in 2015
By 2025, expected dry AMD market: $ 6.58B (Source: Visiongain 2016)
98% of wet AMD patients were reported the onset of dry AMD in seven years (Source: Ophthalmology. 2012 Jul;119(7):1388-98., Ophthalmology. 2013 Nov;120(11):2292-9)
Unmet medical needs for the development of a drug that can treat both wet and dry AMD exist
Expected to grow to approx. about 11.6 B by 2026 (Source: Global Data 2018, 7 major countries)
Thea Open Innovation, part of the Laboratoires THEA S.A.S
Laboratoires THEA S.A.S is a pharmaceutical industry specialized in ophthalmology. The group is the leader in several therapeutic classes as well as in the field of preservative-free eye drops. Laboratoires Théa is an innovative company dedicated to developing high-quality products that support ophthalmic care and eye health across more than 70 countries.
Learn more: https://www.laboratoires-thea.com/en
OliX Pharmaceuticals, Inc.
OliX is a clinical stage pharmaceutical company developing therapeutics against a variety of disorders by down-regulating expression of disease-causing genes, based on its own proprietary RNAi technology. The company is currently developing novel therapeutic programs for treatment of various diseases with high unmet medical needs, including hypertrophic scar, dry & wet age-related macular degeneration (AMD), subretinal fibrosis, and idiopathic pulmonary fibrosis (IPF).
Learn more: http://www.olixpharma.com/main/main.php
Contact: OliX Pharmaceuticlas, Inc. JOHN YOHAN LEE, Communication firstname.lastname@example.org
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