Singapore, June 15 -- South Korea-based OliX Pharmaceuticals, a leading developer of RNAi therapeutics, has raised approximately KRW 110 billion through a third-party allotment of newly issued common shares to strategic investors. The investment was jointly made by BOLD, L'Oreal's corporate venture capital fund, and Weiss Asset Management LP, a U.S. asset management firm.

With the newly secured funds, the company intends to advance its ongoing siRNA-based projects in several therapeutic areas, including skin- and hair-related projects.

The company also expects the investment to further strengthen its strategic partnership with L'Oreal. Through this, the company aims to reinforce its research foundation and accelerate development progres...