Ildong Pharmaceutical and Olix Pharmaceuticals, an RNA interference (RNAi)-based drug developing company, have signed a business agreement to develop new medicines, Ildong Pharmaceutical said Monday.
RNAi relates to a phenomenon where an RNA involved in intracellular protein synthesis affects the expression of a specific gene. It can be used to control physical phenomena or treat diseases.
|Olix Pharmaceuticals CEO Lee Dong-gi and Director of Ildong Pharmaceutical Central Research Institute Kang Jae-hun pose after signing a business agreement.|
“Olix's RNAi technology is a next-generation technology focused on messenger RNA, which transfers DNA genetic information to proteins during protein synthesis in cells,” said an Olix Pharmaceuticals 올릭스 official. “Olix has original patents related to RNAi technology and operates new drug pipelines such as hypertrophic scarring treatment, macular degeneration treatment, and lung fibrosis treatment.”
The company is also the first Asian pharmaceutical company to enter a clinical trial for RNA based drugs, the official added.
Ildong Pharmaceutical 일동제약 also showed enthusiasm for the cooperative agreement. “We expect creative achievements through open innovation,” said Kang Jae-hun 강재훈, director of Ildong Pharmaceutical Central Research Institute. “Through joint research and infrastructure exchanges, we will develop a new innovative drug.”