OliX Pharmaceuticals Subsidiary mCureX Announces Business Agreements to Advance Development of mRNA Vaccines and Therapeutics

SUWON, Republic of Korea, June 07, 2021 (GLOBE NEWSWIRE) -- . (KOSDAQ: 226950), a leading developer of RNAi therapeutics, announced that the Company’s subsidiary mCureX has signed memorandums of understanding with Samyang Holdings to advance development of a messenger ribonucleic acid (mRNA) vaccine for COVID-19 and with GC Pharma to develop mRNA vaccines and therapeutics for respiratory infections and other diseases more broadly.

Under the agreement with Samyang Holdings, the companies will develop an mRNA vaccine for COVID-19, leveraging Samyang’s drug delivery system (DDS) which is designed to protect nucleic acids, like mRNA, that are susceptible to degradation by certain enzymes in the human body. The DDS is based on proprietary bioabsorbable polymer technology that enables therapeutics to be safely and effectively delivered into the human body. mCureX, in close collaboration with Samyang Holdings, is developing a COVID-19 vaccine that will effectively target viral variants.

In collaboration with GC Pharma, mCureX will research and develop mRNA vaccines and treatments for respiratory infections and other diseases based on its proprietary mRNA technology, while GC Pharma will provide clinical development and manufacturing expertise and support.

“Vaccines and therapeutics based on mRNA hold great promise in preventing and treating human diseases given their relatively short development timelines,” said Sun Woo Hong, Ph.D., chief executive officer of mCureX. “Our collaborations with Samyang Holdings and GC Pharma will enable us to rapidly develop mRNA vaccines and therapeutics to fulfill urgent and unmet medical needs in Korea and beyond.”

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.

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