SUWON, Republic of Korea and LONDON, June 16, 2020 (GLOBE NEWSWIRE) -- OliX Pharmaceuticals, Inc. (KOSDAQ: 226950), a leading developer of RNAi therapeutics, today announced that the Company signed an exclusive contract with LGC Biosearch Technologies Inc. (LGC), a contract development and manufacturing organization (CDMO) and part of the global life sciences tools company headquartered in London, to scale production of OliX’s OLX301D therapeutic candidate.
Under the terms of the agreement, LGC will produce the active pharmaceutical ingredients for the preclinical and clinical study of OLX301D program, for the treatment of sub-retinal fibrosis and wet macular degeneration.
The OLX301D program is a first-in-class treatment that may treat choroidal neovascularization and sub-retinal fibrosis in patients with wet macular degeneration. Sub-retinal fibrosis is caused by the development of disciform scar and fibrosis underneath the retina which can cause vision loss through macular edema and detachment. Wet macular degeneration is a chronic eye disorder that causes blurred vision or a blind spot in your visual field. It's generally caused by abnormal blood vessels that leak fluid or blood into the macula.
“We are excited to collaborate with LGC as our long-term partners to scale up production of API for the OLX301D program,” said Dong Ki Lee, Ph.D., founder and Chief Executive Officer of OliX. “LGC’s deep industry expertise and global presence, along with its high-quality global facilities and standards, align with OliX’s mission to deliver innovative therapies to fulfil unmet medical needs around the world.”
David Griffiths, Ph.D., Managing Director of LGC’s Drug Development Solutions business said, “LGC is delighted to have been selected as OliX’s partner. OLX301D is an exciting and innovative therapy that offers hope for millions of patients around the world. As a specialist in this field, we are glad to apply our therapeutic oligonucleotide knowledge and capabilities to help OliX progress its mission which strongly aligns with LGC’s core purpose of science for a safer world.”
About OliX Pharmaceuticals
OliX Pharmaceuticals 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’s core RNAi platform, asymmetric siRNA (asiRNA), is a unique gene silencing technology based on RNA interference (RNAi), which is considered as the most efficient gene silencing technology. Based on asiRNA technology, OliX has developed cell penetrating asiRNA (cp-asiRNA), a therapeutic RNAi platform to effectively target locally administrable diseases, such as hypertrophic scar, dry and wet age-related macular degeneration (AMD), subretinal fibrosis, idiopathic pulmonary fibrosis (IPF), and neuropathic pain. OliX has also developed another therapeutic RNAi platform, GalNAc-asiRNA, to target a variety of liver diseases. Learn more: https://www.olixpharma.com/eng/main/main.php
About LGC
LGC is an international leader in the extended life sciences sector, including human healthcare, agri-food & the environment. LGC provides a comprehensive range of reference materials, proficiency testing schemes, and genomics reagents, as well as research and measurement services. Its scientific tools and solutions enable organisations to advance research, develop new products and form an essential part of their quality and compliance procedures.
LGC’s 3,500 employees include internationally-recognised scientists who are experts in their field. Headquartered in London, it operates out of 19 countries worldwide and is extensively accredited to quality standards such as GMP, GLP, ISO 13485, ISO 17034, ISO 17043, ISO/IEC 17025 and ISO 9001.
LGC has been home to the UK Government Chemist for more than 100 years and is the UK National Measurement Laboratory and Designated Institute for chemical and bio measurement. LGC has been privately-owned since 1996 and has diversified through internal investment and acquisition to be an international leader in its chosen markets. LGC is now owned by funds affiliated with Cinven and Astorg.
For more information, please visit www.lgcgroup.com.
Media Contact:
Sean Leous
Westwicke/ICR PR
Phone: +1.646.677.1839
sean.leous@icrinc.com