NEW YORK (GenomeWeb) – Korean RNAi drug developer OliX Pharmaceuticals, formerly known as Biomolecular Therapeutics, announced today that it has licensed its siRNA-based age-related macular degeneration drug to YuYu Pharma.
The drug, called OLX301, comprises OliX's proprietary self-delivering siRNAs. Under the terms of the arrangement, YuYu will take over the drug's development, manufacturing, and commercialization. In exchange, OliX is eligible to receive milestone payments based on the drug's development and regulatory approval, as well as tiered royalties on product sales.
Additional terms of the deal were not disclosed.