Korean biotechnology and pharmaceutical company, OliX Pharmaceuticals Inc., is preparing to start clinical trials for their COVID-19 drug candidate. Once the drug passes tests against live SARS-CoV-2 (the virus which causes COVID-19), it will enter the clinic after only three months of development. Due to the drug’s design, it could also target the coronaviruses which are responsible for Middle East respiratory syndrome (MERS) and Severe Acute respiratory syndrome (SARS).
Lee Dong-ki, CEO of OliX, said the company has “sufficient funding to support the development of several key pipelines, but more funds will be needed as the number of candidates in the pipeline increases.” As such, OliX will consider partnering with international pharmaceutical companies and financial investors.
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