Olix Pharmaceutical unveiled its latest drug candidate OLX10020, a treatment of geographic atrophy (GA), on Friday. Geographic atrophy is the most severe and advanced form of dry age-related macular degeneration (AMD).
OLX10020 targets an undruggable gene involved in GA, identified by Dr. Jayakrishna Ambati, a professor at the University of Virginia, School of Medicine.
“Results from animal studies support that OLX10020 can specifically target patients with GA among dry AMD patients,” the company said. “OLX10020 has also proved its efficacy in wet AMD animal models, indicating that it has potential to become a first-in-class drug that can treat both dry and wet AMDs.”
The company has completed preliminary safety evaluation and good laboratory practice (GLP) toxicology studies for the drug and is planning to apply for an investigational new drug (IND) to the U.S. Food and Drug Administration and start phase 1 clinical trials until the end of this year.
“OLX10020 is a first-in-class siRNA therapeutics with a novel mechanism of action that can target both dry and wet forms of AMD,” Olix Pharmaceutical CEO and founder Lee Dong-ki said. “Successful development of OLX10020 will provide new hope for the patients suffering from GA, a devastating disease currently no effective treatment is available.”