OliX Pharmaceuticals(226950) signed a technology export contract with Chinese pharmaceutical company Hansoh Pharmaceutical for two siRNA candidates. Instead of handing over all technologies targeting a specific gene, the deal grants development and sales rights for only two of the candidates. OliX Pharmaceuticals can continue developing other candidates that target the same gene for additional commercialization.
OliX Pharmaceuticals said on the 21st that it signed a contract with Hansoh Pharmaceutical allowing the use of two siRNA sequences, each targeting a different gene, for product development and commercialization.
This contract is a new agreement separate from the joint development previously pursued by the two companies. Hansoh Pharmaceutical will be able to develop and sell medicines worldwide using the two siRNA sequences discovered and designed by OliX Pharmaceuticals.
OliX Pharmaceuticals will receive a nonrefundable upfront payment and additional milestones tied to development, approval, and commercialization stages. Once products are launched, it will also receive royalties based on sales.
The key to this contract is "rather than handing over an entire gene, only granting rights to two among multiple candidates targeting that gene."
For example, if there are multiple siRNA candidates targeting a single gene, traditional technology export typically involves broadly transferring rights related to that gene. In such cases, the company transferring the technology may face restrictions when further developing other candidates targeting the same gene or exporting the technology to another company.
However, under this contract, Hansoh Pharmaceutical holds exclusivity only for the two candidates it selected. OliX Pharmaceuticals retains rights to other siRNA candidates targeting the same gene. It effectively leaves room to create multiple candidates for one gene target and commercialize each in different ways.
OliX Pharmaceuticals expects to continue developing other siRNA sequences in-house or exporting the technology to new partners.
Lee Dong-gi, CEO of OliX Pharmaceuticals, said, "This contract again confirms our partner's confidence in the competitiveness and development potential of the sequences derived from our siRNA platform," and added, "We will continue to create diverse development and commercialization opportunities based on our competitive platform capabilities."