SUWON, South Korea--
OliX Pharmaceuticals, Inc. (KOSDAQ: 226950), a leading developer of RNAi therapeutics, announced that the Company has successfully completed a capital raise to support the Company’s R&D activities and improve its financial structure.
The paid-in capital increase totaled KRW 57 billion (approximately USD 45 million) with about 3 million convertible preferred stocks. Eight local institutional investors, including KB Investment, IMM Investment Corp., Company K Partners, Solidus Investment Co., Ltd, Susung Asset Management Co., Ltd., Welcome Asset Management, Focus Asset Management, and Shinhan Capital participated in this third-party capital increase.
The capital will be mainly used to finance the Company’s R&D activities. OliX plans to complete patient administration for its clinical phase 2 hypertrophic scar program (OLX101A) in the US and announce the interim results within this year. The Company’s dry and wet AMD (OLX301A) and
androgenic alopecia (OLX104C) programs are also planned to be entered into clinical trials this year, followed by HBV (OLX703A) and nonalcoholic steatohepatitis (OLX702A) in 2023.