RXi Pharmaceuticals receives SBIR grant to further develop novel RNAi therapeutics

Jul 13 2010

RXi Pharmaceuticals Corporation (Nasdaq: RXII), a recognized leader in RNAi-based therapeutic discovery and development, today announced that it was awarded an Advanced Technology Small Business Innovation Research (SBIR) grant by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH).

“We are honored to have received the financial support to further develop novel RNAi therapeutics using our comprehensive RNAi platform”

The grant will provide funding for pre-clinical development of RNAi therapeutics using RXi's novel, proprietary therapeutic platform, which includes both novel RNAi compounds and advanced delivery technologies.

"We are honored to have received the financial support to further develop novel RNAi therapeutics using our comprehensive RNAi platform," said Anastasia Khvorova, Ph.D., Chief Scientific Officer of RXi Pharmaceuticals. "This highly competitive grant underwent rigorous peer review by the NIH and recognizes the potential of RXi's proprietary RNAi platform and our dedication to advancing novel RNAi therapeutics. The reviewers cited the significance of RXi's proposal to human health, scientific innovation, capability of RXi's team, and rigor of the proposed experimental approach."

The NIAID SBIR grants are for advanced technology projects that require a longer award period and greater award amount than those routinely allowed under the SBIR program. "Advanced Technology" is defined by NIAID as a "clearly identified" product or service that requires approval of the Food and Drug Administration and is within the mission of NIAID. RXi was awarded approximately $300,000 per year for this 2 year Phase I grant with the first year being awarded for 2010, and the second year for 2011 subject to customary conditions. Additional funding of up to $1 million per year over a time period of up to 3 years may be requested for Phase II. The award number is R43AI091045.