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Oncolys BioPharma and Tacere Therapeutics Form Strategic Alliance to Develop RNAi Hepatitis C Drug

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Oncolys BioPharma, Inc. and Tacere Therapeutics, Inc. have announced that they have entered into a strategic alliance to develop TT-033, Tacere's lead clinical program.

Under this agreement, Oncolys has been granted an option to acquire the Asian rights for TT-033, an RNAi based product for the treatment of hepatitis C (HCV), which Oncolys will market as OBP-701. Further, Oncolys has made an equity investment in Tacere of an undisclosed amount.

"We are extremely excited about forming a collaborative relationship with Tacere, one of the pioneers in RNAi, as OBP-701/TT-033 greatly expands and perfectly matches our product pipeline," said Yasuo Urata, President and Chief Executive Officer of Oncolys.

"Regarding HCV, there are still many patients who have no meaningful cure and there is a definite need for new drugs that are both effective and safe. We believe that OBP-701/TT-033 will enable us to offer new treatments for patients suffering from HCV," Urata continued.