OliX Pharmaceuticals Inc. announced the nomination of OLX10020 as a clinical candidate for the treatment of Geographic Atrophy which is the most severe and advanced form of dry Age-related Macular Degeneration. Results from animal studies support that OLX10020 can specifically target patients with GA among dry AMD patients. Furthermore, OLX10020 has been proved effective in wet AMD animal models, indicating that it is a potential first-in-class drug which can treat both dry and wet AMDs. OLX10020 has completed preliminary safety evaluation and GLP toxicology studies will be commenced soon at Covance. An IND application is planned to be submitted to the FDA to initiate a Phase 1 within this year. Occurs when the small central portion of the retina, known as the macula, deteriorates. The leading cause of severe vision loss in people over age 60 in developed countries.