OliX Pharmaceuticals Inc., a Korean biotech company dedicated to RNA interference therapeutics, signed on a deal to license out its OLX301A and OLX301D for treatments of age-related macular degeneration (AMD) and subretinal fibrosis to Théa Open Innovation under France’s ophthalmology company Laboratoires Théa.
Under a licensing deal, the two parties will broaden their partnership in the development of up to four lead pipeline products, while Théa will have worldwide rights excluding Asia-Pacific for four programs to develop OliX’ products OLX301A and OLX301D along with two other ophthalmic pipelines upon exercise of the option, according to the companies. The two products remain preclinical and their partnership aims to accelerate efforts to bring them to the clinic.
The deal value is worth up to €333.9 million ($393 million) for the two products alone, OliX said in a regulatory filing on Wednesday. This includes Théa’s upfront payment of €10.6 million ($10.4 million) for the two products, plus development and commercialization milestones depending on the progression of the two AMD programs and the triggering of the option. Including the optional two products, the deal could reach up to €667.9 million, according to Olix.
Kosdaq-listed Olix shares closed up 0.58 percent at 69,300 won ($60.16) on Thursday.
Théa Open Innovation affiliated with Laboratoires Théa S.A.S, the leading independent pharmaceutical company in Europe dedicated to ophthalmology, has operated in 30 plus countries.
OliX founder and chief executive Lee Dong-ki said the company will seek partnership for its experimental GalNAc-based RNAi therapeutics for hepatic disease.
By Kim Si-gyun and Minu Kim
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