MARLBOROUGH, Mass.,
Feb. 5, 2015 /PRNewswire/ -- RXi
Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company
focused on discovering and developing innovative therapies
addressing high-unmet medical needs, today announced the closing of
its previously disclosed exclusive global license agreement for the
therapeutic use of Samcyprone™ with Hapten Pharmaceuticals,
LLC.
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Under the terms of the license agreement, Hapten received a
one-time upfront cash payment of $100,000 and 200,000 shares of RXi common
stock. Hapten will also be entitled to receive future
milestone payments tied to the achievement of certain clinical and
commercial objectives, such as the enrollment of the first patient
in a Phase 3 clinical trial and regulatory approval, and escalating
royalties based on product sales.
About Samcyprone™
Samcyprone™, a proprietary immunomodulating topical gel
containing the active agent diphenylcyclopropenone (DPCP), is
currently in Phase 2a clinical trials for the treatment of alopecia
areata, warts and cutaneous metastases of malignant melanoma. The
proprietary gel formulation of DPCP, developed by Hapten
Pharmaceuticals, LLC, should provide an improvement in the overall
safety and tolerability profile compared to treatment with DPCP as
currently used. Typically, patients treated with DPCP are initially
sensitized with a single high concentration of drug and
subsequently treated with low non-irritant concentrations. Use of
high concentrations of DPCP during the sensitization dose results
in hyper-sensitizing the patient to subsequent challenge doses. In
contrast, the use of Samcyprone™ results in sensitization using a
much lower concentration of DPCP, avoiding hyper-sensitization to
challenge doses, which should result in an improved safety and
tolerability profile while maintaining the known efficacy of
DPCP.
Additional information on Samcyprone™ is available and may be
found on the "Technology" section of the Company's website,
www.rxipharma.com.
About Hapten Pharmaceuticals, LLC
Hapten Pharmaceuticals, LLC is an early stage dermatology
product development company based in New
York, NY. Hapten's Samcyprone™ is a topical immunomodulator
that incorporates DPCP in a proprietary gel formulation.
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a
biotechnology company focused on discovering and developing
innovative therapeutics, primarily in the area of dermatology and
ophthalmology, addressing high-unmet medical needs. Our discovery
and clinical development programs are based on siRNA technology as
well as immunotherapy agents. These compounds include, but are
not limited to, our proprietary, self-delivering RNAi
(sd-rxRNA®) compounds for the treatment of dermal and
retinal scarring. It also includes an immunomodulator, Samcyprone™,
a proprietary gel formulation of diphenylcyclopropenone (DPCP), for
the treatment of such disorders as alopecia areata, warts, and
cutaneous metastases of melanoma.
RXi's robust pipeline, coupled with an extensive patent
portfolio, provides for product and business development
opportunities across a broad spectrum. We are committed to being a
partner of choice for academia, small companies, and large
multinationals. We welcome ideas and proposals for strategic
alliances, including in- and out-licensing opportunities, to
advance and further develop strategic areas of interest.
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 and planned and future development of RXi
Pharmaceuticals Corporation's products, technologies and
partnerships. Forward-looking statements about expectations and
development plans of RXi's products and partnerships involve
significant risks and uncertainties such as: the risk that we
may not be able to successfully develop and commercialize the
Samcyprone™ product candidates, or that development of the
Samcyprone™ product candidates may be delayed or not proceed as
planned, risks related to the development and commercialization of
products by our competitors, the risk 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 preventing us from developing our products.
Actual results may differ from those contemplated by these
forward-looking statements. RXi does not undertake to update
forward-looking statements to reflect a change in its views, events
or circumstances that occur after the date of this release.
Contact
RXi Pharmaceuticals Corporation
Tamara McGrillen
508-929-3646
tmcgrillen@rxipharma.com
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SOURCE RXi Pharmaceuticals Corporation