Olix Signs Technology Export Contract Worth 530 Billion KRW with Zhonghan So Pharmaceutical

[Asia Economy Reporter Minwoo Lee] Olix announced on the 12th that it has signed a technology export and cooperation agreement with China's Jiangsu Hansoh Pharmaceuticals Group Co., Ltd for the research and development of short interfering ribonucleic acid (siRNA) therapeutics.

The contract involves providing two new drug candidates targeting genes proposed by Hansoh Pharmaceuticals using Olix's 'GalNAc-asiRNA' platform technology. Through this, they plan to discover therapeutic agents for cardiovascular and metabolic diseases.

Under this agreement, Olix is expected to receive an upfront payment of approximately 7.7 billion KRW (65 million USD) and milestone payments totaling up to about 530 billion KRW (451 million USD) from Hansoh Pharmaceuticals, along with separate ongoing royalties.