OliPass, a Korean company specializing in RNA treatment platform, received an upfront fee of $3 million (4.3 billion won) from Vanda Pharmaceuticals, a U.S. biopharmaceutical company, regarding a joint research and development contract for a new RNA-based treatment.
On Sept. 29, the two companies signed a contract to collaborate on editing and modifying gene expression using antisense oligonucleotides (ASOs) in disease states where the expression of genes is either altered or the sequence of the expressed genes can be altered for therapeutic benefit.
OliPass' Olipass Peptide Nucleic Acids (OPNA) technology provides the delivery platform for these gene expression modifications.
Vanda has already identified two ASO targets that have been validated in cell lines that model two undisclosed disease targets -- one rare disease and the other applicable to a broad set of immuno-oncological conditions.
If the two companies succeed in deriving new drug candidates, Vanda will pay milestone technology fees to OliPass and conduct separate discussions to conclude a license contract for the new drug candidate.