RXi Pharma begins trading on Nasdaq

RXi Pharmaceuticals of Worcester, Massachusetts, USA, began trading on the Nasdaq Capital Markets on March 12. Last year, RXi was formed as an RNAi technology and intellectual property spin out of CytRX, and is now a separate, public company. (One share of RXi for every 20.05 shares of CytRX). RXi says it now joins the ranks as one of only a few pure play RNAi public companies.

The company is advancing a next-generation approach to RNAi compound design and delivery called rxRNA, which is distinct from classical RNAi approaches used by others in the field, such as siRNA, and establishes RXi as a leading player in this rapidly emerging space. Some benefits of rxRNA include: stability and specificity, lower manufacturing cost and easier to manufacture and higher activity, it says.

The firm was founded by world class scientific advisors with extraordinary experience in RNAi, including Craig Mello, winner of the Nobel Prize for his co-discovery of RNAi. It says it is led by a management team with proven success in developing and commercializing products - strong RNAi backgrounds and IP experience (Tod Woolf, president and chief executive, co-invented and commercialized Stealth RNAi; Pam Pavco, vice president of pharmaceutical development, brought Sirna's lead candidate to Phase I in less than 12 months).