Tuesday June 17, 10:22 am ET
Management Comments on Recently Signed Massachusetts Life Sciences Initiative
WORCESTER, Mass.--(BUSINESS WIRE)--RXi Pharmaceuticals Corporation (RXi) (NasdaqCM: RXII), today announced Company presentations at the 2008 BIO International Convention taking place June 17-20 at the San Diego Convention Center in San Diego, CA. Details are as follows:
Dr. Tod Woolf, President and Chief Executive Officer of RXi, will present an overview of the Company on June 18th at 1:00pm Pacific Time in Room #4 at the Convention Center.
Dmitry Samarsky, Ph.D., Vice President of Technology Development, will present Poster #2184, entitled, ?Mechanisms of Action of RNAi with Chemically Modified Duplexes,? on Thursday, June 19, from 10:00am to 11:00am Pacific Time.
In addition to a general corporate update on June 18th, Dr. Woolf is expected to comment on the recent signing by Governor Deval Patrick, of the landmark, Massachusetts Life Sciences Initiative, a bill which will provide approximately $1 billion over the next 10 years for Massachusetts? life sciences industry.
Dr. Woolf noted, ?The signing of this bill is an important event for the life science industry in Massachusetts and in particular, for the future of RNAi research. In addition to other key initiatives, the bill provides no less than $90 million for the creation of an advanced therapeutics cluster to be built and located at the University of Massachusetts (UMass) Medical School in Worcester, including a proposed RNAi institute.?
?The proposed RNAi institute at UMass in Worcester, where our founder, Dr. Craig Mello, co-recipient of the 2006 Nobel Prize for his ground breaking discovery of RNAi currently serves as a professor of Molecular Medicine, is an endorsement of the quality of research currently underway at the University. We believe RXi Pharmaceuticals? strong existing relationships with Craig and other RNAi leaders at UMass and our Worcester location put us in a great position to benefit from the work that will be done at the new institute, and may provide RXi with additional pipeline opportunities under the Company?s existing licensing agreement with UMass for new RNAi discoveries.?
About RXI Pharmaceuticals
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 Pharmaceuticals' rxRNA? compounds are distinct from the siRNA compounds used by many other companies developing RNAi therapeutics and are believed by the Company, based on its internal research, to be up to 100x more active than conventional siRNA (depending on the target site), nuclease resistant and readily manufactured. 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. http://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 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, and the possibility that other companies or organizations may assert patent rights that prevent us from developing our products and the risk that we may not be able to acquire or license additional intellectual property necessary or useful for our business on favorable terms or at all. 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.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100, Maitland, FL 32751,
(800) 733-2447,Fax: (407) 644-0758,
info@redchip.com
No comments:
Post a Comment