RXi Pharmaceuticals Announces New Focused Therapeutic Strategy for its Next Generation RNAi Technology

June 10, 2010

WORCESTER, Mass.--(BUSINESS WIRE)--RXi Pharmaceuticals Corporation (Nasdaq: RXII), a recognized leader in RNAi-based therapeutic discovery and development, today announced the company’s new focused RNAi therapeutic strategy at the Jefferies 2010 Global Life Sciences Conference.

RXi’s therapeutic platform has the potential to be broadly applicable to multiple therapeutic areas and indications. The company’s core focus leverages RXi’s unique technologies and competencies to advance potential candidates in select therapeutic areas with attractive market potential. RXi will also explore additional indications of strategic interest to the company which will be advanced internally and with partners through preclinical studies. As RXi executes on its core focus and strategic interest areas, additional areas may be pursued opportunistically.

Core Focus: RXi will focus its internal therapeutic development efforts in two main areas:

1.    In the area of Dermatology, RXi is pursuing a program in anti-scarring. Anti-scarring is an attractive therapeutic indication with clear development precedent and limited competition for effective therapies. The company estimates that the US potential market for skin scarring is up to $4 billion with approximately 42 million skin-scarring surgical procedures annually. RXi’s sd-rxRNA™ (self-delivering rxRNA™) compounds have shown robust delivery and effective target silencing in skin using local administration. The company intends to select an anti-scarring development candidate in 2010 and file an IND in 2011. RXi’s success with RNAi therapeutics in anti-scarring may provide additional opportunities in other dermatology applications as well as in anti-fibrotic indications including pulmonary fibrosis, liver fibrosis, acute spinal cord injury, ocular scarring and restenosis, which together encompass a potential market size of more than $16 billion.

2.    In the area of Ophthalmology, RXi is moving forward with a program in retinal disorders. There are multiple retinal diseases with large unmet medical need that are not addressed with currently available therapies. These diseases include wet and dry age-related macular degeneration, diabetic retinopathy and diabetic macular edema, which together affect approximately 18 million people in the US, and which have an estimated market potential of up to $20 billion. RXi has shown data demonstrating unprecedented delivery and effective target silencing in the retina with sd-rxRNA compounds. By coupling its unique technology with existing and novel targets, and potentially multiple targets, the company believes it has the potential to develop next generation treatments for retinal disorders. Further, the company believes that there is opportunity to potentially improve on existing therapies, extend the time required between doses and utilize new modes of administration for delivery to the eye. The company intends to select a retinal disorder development candidate in 2011.

Strategic Interest: RXi will explore additional indications through preclinical development that are of strategic interest to the company and may provide partnership opportunities.

1.    In the area of Neurology, RXi is exploring indications accessible by spinal cord delivery of sd-rxRNA. Direct dosing to the spinal cord could be used for severe central nervous system or spinal cord diseases in both orphan and non-orphan indications, both of which have multibillion dollar markets. RXi may also be able to leverage early proof-of-concept studies and collaborations to advance programs in this area. The company intends to advance potential candidates through preclinical studies as well as seek partners to help support further development.

2.    In the area of Oncology, RXi will be concentrating initially on liver metastases and hepatocellular carcinoma using systemic delivery of sd-rxRNA or rxRNA™ compounds in combination with delivery vehicles. These two diseases areas of high unmet need have a US market potential of up to $3.2 billion and $800 million respectively. With the ability to develop compounds against novel and multiple gene targets with a single treatment, RNAi has increasing potential in oncology given the emerging emphasis on multi-targeted therapies. The unique features of sd-rxRNA may offer a new alternative to treating cancers which could lead to attractive product candidates to further advance in conjunction with partners.

 

Opportunistic Pursuit: RXi will continue to evaluate multiple opportunities and is prepared to engage in more active therapeutic development in cases where a program is funded by a partner or where RXi attains promising initial results. These opportunities could be in a variety of areas, such as Hepatic (HCV), Respiratory (Asthma, COPD), Oncology, and others.

An archived webcast of the presentation is available in the “Investor Relations” section of the company's website, www.rxipharma.com and will be available for 30 days.

About RXi Pharmaceuticals Corporation

RXi Pharmaceuticals is a recognized leader in RNAi-based therapeutic discovery and development with a comprehensive therapeutic platform that includes both RNA interference (RNAi) compounds and delivery methods. The company is leveraging this broad and integrated RNAi therapeutic platform to build a pipeline of RNAi therapeutics for the treatment of a number of disease areas, including its core focus of developing treatments for anti-scarring and retinal disorders as well as a continued interest in oncology and indications accessible by spinal cord delivery. RXi Pharmaceuticals believes it is well positioned to compete successfully in the RNAi therapeutics market based on the strength of its next generation therapeutic platform, experienced management team, accomplished Scientific Advisory Board, including Nobel Laureate, Dr. Craig Mello, and its broad intellectual property position in RNAi chemistry and delivery.

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, 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