Olipass

About Olipass

Olipass Corporation is a publicly-traded South Korean biotechnology firm focused on developing RNA therapeutics. Founded in 2006 by CEO Shin Chung, who holds a Ph.D. in Chemistry from Columbia University and previously led the new drug team at Amorepacific's technology institute, the company leverages deep expertise in chemistry and pharmaceuticals. Olipass was established to overcome the limitations of existing drug development, particularly in the then-nascent field of RNA-based treatments. The company listed on the KOSDAQ as a technology growth enterprise in September 2019.

The core of the company's research is the proprietary OliPass PNA (OPNA) platform. This technology is based on Peptide Nucleic Acids, an artificial DNA mimic, which has been chemically modified to significantly enhance cell permeability and binding affinity to pre-mRNA. Unlike many RNA therapeutics that require a separate delivery system, OPNA is designed to readily enter cells and the nucleus without a specific formulation. The platform's mechanism of action is exon skipping, where the OPNA molecule binds to a target pre-mRNA, altering the splicing process. This prevents the creation of disease-causing proteins. The technology's high binding affinity allows for therapeutic effects at extremely low concentrations compared to other nucleic acid drugs, potentially reducing side effects.

Olipass's business model has two primary tracks. The main focus is the clinical development and subsequent out-licensing of its therapeutic pipeline to global pharmaceutical partners. A key candidate is OLP-1002, a non-opioid painkiller targeting the SCN9A gene, which has completed Phase 2a clinical trials in Australia for osteoarthritis pain. The pipeline also includes programs for hyperlipidemia, diabetic retinopathy, Duchenne Muscular Dystrophy, and immuno-oncology. The second track involves collaborative R&D projects, termed "Target X," where Olipass uses its platform to develop drug candidates against targets specified by partner companies, generating revenue through research fees and potential future milestones. Additionally, the company generates revenue from a cosmetics subsidiary, Olipass Cosmeceuticals, which applies its core technology to skincare products.