South Korea-based OliX Pharmaceuticals, a leading developer of RNAi therapeutics, has raised approximately KRW 110 billion through a third-party allotment of newly issued common shares to strategic investors. The investment was jointly made by BOLD, L’Oréal’s corporate venture capital fund, and Weiss Asset Management LP, a U.S. asset management firm.
With the newly secured funds, the company intends to advance its ongoing siRNA-based projects in several therapeutic areas, including skin- and hair-related projects.
The company also expects the investment to further strengthen its strategic partnership with L’Oréal. Through this, the company aims to reinforce its research foundation and accelerate development progress.
OliX is developing therapeutics based on its proprietary core drug development platform, OASIS (OliX Advanced Small Interfering RNA System), which is designed to enhance the high gene-silencing efficiency of RNAi technology and enable tissue-specific delivery. Based on this platform, OliX is advancing locally administered RNAi therapeutics for various indications, including hair loss, age-related macular degeneration (AMD), and hypertrophic scars.
