OliX is expanding the scope of its partnership with global beauty company L'Oréal Group from skin and hair into nail health. The move raises the possibility that OliX's small interfering RNA (siRNA) technology could be applied to nail-related cosmetics or to diseases such as onychomycosis.
OliX said Monday that it had signed a collaboration agreement with L'Oréal to discover new siRNA candidates in the nail health field. The specific size of the deal was not disclosed. siRNA is the core substance in RNA interference (RNAi) technology, which suppresses the expression of specific genes involved in disease and aging.
The two companies signed a joint research agreement in June last year based on an siRNA platform focused on skin and hair regeneration and aging. The latest agreement is an extension of the existing partnership, marked by the broadening of the collaboration into the nail field. Development targets include cosmetics for nail health.
The possibility of expansion into treatments for nail diseases such as onychomycosis is also being discussed. Onychomycosis is considered a disease that poses a significant safety burden, as treatment with existing oral medications is accompanied by side effects such as impaired liver function. As a result, analysts say OliX's siRNA technology could be applied as a topical treatment applied directly to the affected area.
Under the joint research agreement, L'Oréal will provide strategic and scientific expertise in beauty science and invest research funds to support the joint development of products. OliX plans to lead the overall research, including candidate discovery, research and development (R&D), and program management.
Dong-ki Lee, CEO of OliX, said in a recent interview with the Seoul Economic Daily that "the beauty market will also be reshaped into a functional beauty market that improves functions such as skin regeneration and anti-aging." He stressed, "Using our RNA platform, we plan to continuously discover new targets, not only in skin and hair."
Meanwhile, L'Oréal's venture fund "BOLD" decided this month to make a 10.5 billion won equity investment in OliX.
