RXi Pharmaceuticals Celebrates Expansion of its Operations in Massachusetts
MARLBOROUGH, Mass., July 2, 2014 /PRNewswire/ -- RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using RNA-targeted technologies, today announced the official opening of its new office and laboratory in the Marlborough Technology Center. The Company will host a ribbon-cutting ceremony on Wednesday, July 9, 2014 from 10:00 -12:00 p.m., at 257 Simarano Drive, Marlborough, MA, to mark the opening of their new facility. The ceremony will be held in collaboration with the Massachusetts Life Sciences Center (MLSC) and MassBio.
"The Company's recent move to Marlborough has allowed us to centralize our employee base," said Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals. "In addition, this facility allows for future growth considerations as we advance our pre-clinical and clinical programs."
RXi Pharmaceuticals was founded in 2011. Since that time, the Company has successfully completed and announced positive results from two Phase 1 clinical studies with our lead compound RXI-109. We have formed two therapeutic franchises, within RXi, based on our areas of focus: Dermatology and Ophthalmology. The Company has continued to progress its dermal clinical program and is currently conducting two Phase 2 studies with a third study planned for initiation this year. Within our Ophthalmology program, we have obtained positive results, with RXI-109, in the eyes of cynomolgus monkeys. In addition, the Company received a notice of allowance from the United States Patent and Trademark Office (USPTO) for a key patent covering our core, self-delivering RNAi technology (sd-rxRNA®) platform, which sets us apart from the competition and provides us with a powerful advantage to deliver our RNAi compounds without delivery vehicles. We believe we are well positioned for continued success.
The Company is supported by a group of dedicated, professional employees, with strategic guidance provided by a seasoned and successful Board of Directors, and by an accomplished Management and Scientific Advisory Board with significant experience in RNAi therapeutics, dermatology drug development and in building and managing emerging life science companies.
"Thanks to our growth strategy of investing in education, innovation and infrastructure, Massachusetts continues to lead the world in life sciences," said Massachusetts Governor Deval Patrick. "We congratulate RXi Pharmaceuticals on their expansion and look forward to their continued contributions to our thriving life sciences community."
"On behalf of the Center, I would like to extend our warmest congratulations to RXi Pharmaceuticals as the company officially opens its new office and laboratory in Marlborough," said Susan Windham Bannister, Ph.D., President and CEO of the Massachusetts Life Sciences Center, the agency charged with implementing Governor Patrick's 10-year, $1 billion Life Sciences Initiative. "We've enjoyed a long-standing relationship with RXi, and we are pleased to celebrate its ongoing success and growth in Massachusetts."
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an investment agency that supports life sciences innovation, research, development and commercialization. The MLSC is charged with implementing a 10-year, $1-billion, state-funded investment initiative. These investments create jobs and support advances that improve health and well-being. The MLSC offers the nation's most comprehensive set of incentives and collaborative programs targeted to the life sciences ecosystem. These programs propel the growth that has made Massachusetts the global leader in life sciences. The MLSC creates new models for collaboration and partners with organizations, both public and private, around the world to promote innovation in the life sciences. For more information, please visit www.masslifesciences.com.
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a biotechnology company focused on discovering, developing and commercializing innovative therapies based on its proprietary, self-delivering RNAi (sd-rxRNA®) platform. Therapeutics that use RNA interference, or "RNAi," have great promise because of their ability to down-regulate the expression of specific genes that may be over-expressed in disease conditions. Building on the pioneering work of scientific founder and Nobel Laureate Dr. Craig Mello, a member of the RXi Scientific Advisory Board, RXi's first RNAi product candidate, RXI‑109, entered into human clinical trials in June 2012 and is currently being evaluated in Phase 2 clinical trials to reduce dermal scarring (fibrosis). RXI‑109 targets connective tissue growth factor (CTGF), which may also be key in the development of retinal scarring. RXi's sd‑rxRNA oligonucleotides are designed for therapeutic use and have drug-like properties, such as high potency, target specificity, serum stability, reduced immune response activation, and efficient cellular uptake. These hybrid oligonucleotide molecules combine the beneficial properties of conventional RNAi and antisense technologies. This allows sd‑rxRNAs to achieve efficient cellular uptake and potent, long-lasting intracellular activity. For more information, please visit www.rxipharma.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future expectations, planned and future development of RXi Pharmaceuticals Corporation's products and technologies. Forward-looking statements about expectations and development plans of RXi's products involve significant risks and uncertainties: the risk that we may not be able to successfully develop our candidates, or that development of RNAi-based therapeutics may be delayed or not proceed as planned, or that we may not develop any RNAi-based products; risks that the development process for our product candidates may be delayed, risks related to the development and commercialization of products by our competitors, the risk related to our ability to control the timing and terms of collaborations with third parties, and the possibility that other companies or organizations may assert patent rights preventing us from developing our products. Actual results may differ from those contemplated by these forward-looking statements. RXi does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release.
For additional details or to attend the ceremony, please contact:
RXi Pharmaceuticals' new facility is located at the following address:
257 Simarano Drive, Suite 101
Marlborough, MA 01572
This announcement is not intended to be a commercial endorsement by the MLSC of any products or services provided or developed by the entities referenced in this release.
SOURCE RXi Pharmaceuticals Corporation