OliX Pharmaceuticals Secures Major Investment from BOLD and Weiss Asset Management

What's Happening? OliX Pharmaceuticals, a South Korean developer of RNAi therapeutics, has secured approximately KRW 110 billion through a third-party allotment of newly issued common shares. The investment was made by BOLD, L’Oréal’s corporate venture capital fund, and Weiss Asset Management LP, a

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What is the story about?

What's Happening?

OliX Pharmaceuticals, a South Korean developer of RNAi therapeutics, has secured approximately KRW 110 billion through a third-party allotment of newly issued common shares. The investment was made by BOLD, L’Oréal’s corporate venture capital fund, and

Weiss Asset Management LP, a U.S. hedge fund. This funding aims to advance OliX's siRNA-based projects, particularly in skin and hair-related therapeutics. The investment also strengthens OliX's strategic partnership with L’Oréal, combining their expertise in beauty innovation and RNAi technology.

Why It's Important?

This investment underscores the growing interest in RNAi technology and its potential applications in therapeutics. For OliX Pharmaceuticals, the funding provides a significant boost to their research and development efforts, potentially accelerating the commercialization of their products. The involvement of BOLD and Weiss Asset Management highlights the confidence in OliX's technological capabilities and market potential. This development could influence the biotech industry by encouraging further investments in RNAi and similar innovative technologies.