OliX Pharmaceuticals, a gene therapy developer, recorded a daily limit up on the 10th after news that it signed a global license agreement worth 910 billion won with Eli Lilly.
As of 9:29 a.m. that day, OliX Pharmaceuticals was trading at 26,700 won, up 6,150 won (29.93%) from the previous trading session.
Earlier, on the 7th, OliX Pharmaceuticals announced after market close that it had signed a global license agreement worth a total of 910 billion won with the U.S. pharmaceutical company Eli Lilly and Company. This collaboration aims to develop and commercialize the clinical phase 1 substance 'OLX702A (substance name OLX75016),' targeting metabolic associated steatotic liver disease (MASH) and cardiovascular and metabolic diseases.
Under the contract, OliX Pharmaceuticals must complete the clinical phase 1 of OLX75016, and clinical development and commercialization will be conducted by Eli Lilly. Eli Lilly will thereafter be granted exclusive licensing rights. The total contract amount, including upfront payments and milestones, is $630 million (approximately 911.67 billion won).