RXi Pharmaceuticals Corporation (Nasdaq: RXII), a biopharmaceutical company pursuing the development and commercialization of proprietary therapeutics based on RNA interference (RNAi), today reported that the Company has received Frost & Sullivan's 2009 North American RNAi Therapeutic Design & Delivery Technology Innovation of the Year Award for the development of its proprietary RNAi compounds, rxRNA™, and advanced delivery approaches. The rxRNA™ compounds are designed specifically for therapeutic use and contain many of the properties needed to develop RNAi-based drugs.
Commenting on today's news, Noah D. Beerman, President and Chief Executive Officer of RXi Pharmaceuticals, stated, "We are honored to receive this prestigious award. RXi has built a comprehensive RNAi therapeutic platform based on innovative technology that we are using to advance internal therapeutic programs as well as those of our partners and collaborators. RXi's therapeutic platform consists of rxRNA™ compounds optimized for therapeutic applications and advanced delivery technologies for both local and systemic delivery. For these accomplishments, RXi has been recognized with the Frost & Sullivan RNAi Technology Innovation of the Year Award."
Frost & Sullivan's Technology Innovation Award is bestowed upon a company (or individual) that has carried out new research which has resulted in innovation(s) that have or are expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
A full copy of the report is available at: www.rxipharma.com
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals is a discovery-stage biopharmaceutical company pursuing the development and potential commercialization of proprietary therapeutics based on RNA interference (RNAi) for the treatment of human diseases. RXi has a comprehensive therapeutic platform that includes both RNAi compounds and potential delivery methods. RXi uses its own version of RNAi compounds -- rxRNA™ -- designed specifically for therapeutic use and contain many of the properties needed to move RNAi-based drugs into the clinic. RXi Pharmaceuticals believes it is well positioned to compete successfully in the RNAi-based therapeutics market with its accomplished scientific advisors, including Dr. Craig Mello, recipient of the 2006 Nobel Prize for his co-discovery of RNAi; a management team that is experienced in developing RNAi products; and a strong early intellectual property position in RNAi chemistry and delivery. www.rxipharma.com
Forward-Looking Statements
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, plan and future development of RXi Pharmaceutical Corporation's products and technologies. These forward-looking statements about future expectations, plans and prospects of the development of RXi Pharmaceutical Corporation's products and technologies involve significant risks, uncertainties and assumptions, including the risk of delays in satisfying the conditions to selling any of the securities to YA Global Investments pursuant to the Standby Equity Distribution Agreement that we have in place with them and the potential adverse impact on the market price of our securities due to resale by YA Global Investments of securities purchased from the Company if the Company sells them securities, the risk that the proceeds from the recently completed securities offering will be insufficient to meet all of the capital needed to support our operations, the risk that pre-clinical results of our oral delivery technology obtained to date may not be reproducible in subsequent pre-clinical or clinical trials, the risk that unanticipated safety or efficacy issues may arise in the course of developing our oral delivery technology, the risk that the development of our RNAi-based therapeutics may be delayed or may not proceed as planned and we may not be able to complete development of any RNAi-based product, the risk that the FDA approval process may be delayed for any drugs that we develop, risks related to development and commercialization of products by our competitors, risks 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 that prevent us from developing our products. Actual results may differ materially from those RXi Pharmaceuticals Corporation contemplated by these forward-looking statements. RXi Pharmaceuticals Corporation does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this release.
Contacts:
RXi Pharmaceuticals
Donna Falcetti, 508-929-3615
ir@rxipharma.com
or
Investors
S.
A. Noonan Communications
Susan Noonan, 212-966-3650
susan@sanoonan.com
or
Media
Rx
Communications Group
Eric Goldman, 917-322-2563
egoldman@rxir.com
