NEW YORK (GenomeWeb) — South Korea's OliX Pharmaceuticals announced that it has received an undisclosed amount of funding from the South Korean government to support the preclinical development of its siRNA-based anti-scarring drug candidate BMT 101.
The drug is designed to silence connective tissue growth factor, which is implicated in scarring and fibrosis. Notably, RXi Pharmaceuticals' Phase II anti-scarring drug RXI-109 is also designed to inhibit this target.
"Based on successful preclinical results, we are looking forward to proceeding with international licensing-outs of BMT101 to multinational companies for the entry of mature markets like the US, Europe, and Japan," OliX CEO Sun-Woo Hong said in a statement.