Suwon, South Korea and Oslo, Norway, May, 5^th 2021 – OliX Pharmaceuticals Inc. (KOSDAQ: 226950) a leading developer of RNAi therapeutics, and PCI Biotech (OSE: PCIB), a cancer focused biopharmaceutical company with a unique intracellular delivery technology, today announced an extensive research collaboration. OliX Pharmaceuticals and PCI Biotech will combine their know-how and technology platforms to explore synergies and further partnership on dermatology and other applications.

The partnership is governed by a research collaboration agreement, under which the collaborators will perform an extensive evaluation of technology compatibility and synergy based on OLX104C (Androgenic Alopecia) preclinical studies. The companies will evaluate results achieved from this research collaboration to explore the potential for further development and partnership.

Commenting on the announcement, Dong Ki Lee, CEO of OliX Pharmaceuticals said: “We are very excited to collaborate with PCI Biotech. Combining our proprietary asiRNA platform with PCI’s leading fimaNAc delivery technology will significantly accelerate our efforts to bring our dermatological RNAi programs to the clinic. We also expect to expand the area of application to our cancer immunotherapy pipeline and mRNA vaccines developed by our subsidiary, mCureX, in the near future.”

PCI Biotech’s CEO, Per Walday, added: “We are very pleased to initiate this exciting collaboration with OliX Pharmaceuticals. This collaboration builds on the strong potential of our intracellular delivery platform technology for nucleic acid based therapies, within a therapeutic field of good technological fit. Combining the leading technologies of OliX Pharmaceuticals and PCI Biotech may lead to new promising applications and we look forward to the collaboration.”

About OliX Pharmaceuticals
OliX Pharmaceuticals is a clinical stage pharmaceutical company developing therapeutics against a variety of disorders by down-regulating expression of disease-causing genes, based on its own proprietary RNAi technology. The Company’s core RNAi platform, asymmetric siRNA (asiRNA), is a unique gene silencing technology based on RNA interference (RNAi), which is considered as the most efficient gene silencing technology. Based on asiRNA technology, OliX has developed cell penetrating asiRNA (cp-asiRNA), a therapeutic RNAi platform to effectively target locally administrable diseases, such as hypertrophic scar, dry and wet age-related macular degeneration (AMD), subretinal fibrosis, idiopathic pulmonary fibrosis (IPF), and neuropathic pain. OliX has also developed another therapeutic RNAi platform, GalNAc-asiRNA, to target a variety of liver diseases. For more information, please visit: https://www.olixpharma.com

About PCI Biotech
PCI Biotech is a biopharmaceutical late stage clinical development company focusing on development and commercialization of novel therapies for the treatment of cancer through its innovative photochemical internalization (PCI) technology platform, for intracellular delivery. PCI induces triggered endosomal release that enables drugs to reach intracellular therapeutic targets. Currently, PCI Biotech is working on three programs: fimaChem (enhancement of chemotherapeutics for localized treatment of cancer), fimaVacc (T-cell induction technology for therapeutic vaccination), and fimaNAc (nucleic acid therapeutics delivery). For more information, please visit: www.pcibiotech.com

Contact Information:

OliX Pharmaceuticals
Media Contact
Kelly Kim / Communications
Phone: +82 10 4220 2801
E-Mail: kellykim@olixpharma.com

PCI Biotech Holding ASA
Per Walday, CEO Mobile: +47 917 93 429
E-Mail: pw@pcibiotech.com

Forward-looking statements        
This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties and other important factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements. PCI Biotech disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.