Hansoh (Shanghai) Health Technology Co. Ltd. and Jiangsu Hansoh Pharmaceutical Group Co. Ltd. have entered into an exclusive license and collaboration agreement with OliX Pharmaceuticals Inc. Pursuant to the Licensing Agreement, OliX Pharmaceuticals will use its GalNAc-asiRNA platform technology to discover lead compounds and secure development candidates for targets in cardiovascular, metabolic, and other diseases associated with the liver. Hansoh will have the exclusive commercial rights to these therapeutics in China and OliX Pharmaceuticals will have the rights in the rest of the world. OliX Pharmaceuticals will receive initial upfront payment of USD 6.5 million with up to USD 450 million plus royalties based on key milestones. The Company is of the view that with OliX Pharmaceuticals ' leading position in siRNA development with an established clinical stage portfolio, it is expected that the Company will be able to utilize their innovative technology platform in development process to focus on liver- based targets that are implicated in areas including cardiovascular, metabolic and other diseases with an aim to address a broad range of unmet medical needs in the PRC. 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.