MARLBOROUGH, Mass.,
Oct. 12, 2016 /PRNewswire/
-- RXi Pharmaceuticals Corporation (NASDAQ: RXII), a
clinical-stage RNAi company developing innovative therapeutics that
address significant unmet medical needs, announced today that it
has entered into an exclusive option agreement to acquire all
outstanding capital stock of MirImmune Inc., a privately-held
company focused on the development of next generation
immunotherapies for the treatment of cancer, in consideration for a
number of shares equal to 19.99% of the then outstanding shares of
common stock of RXi, plus additional potential consideration
contingent on MirImmune reaching certain milestones. RXi
Pharmaceuticals can exercise the option to acquire MirImmune on the
terms set forth in the option agreement at any time prior to
April 5, 2017 but has no obligation
to do so.
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MirImmune was co-founded by Tim
Barberich, founder and former Chairman and CEO of Sepracor,
Inc. In early 2015, RXi and MirImmune entered into an exclusive
license agreement to RXi's novel and proprietary sd-rxRNA
technology for use in developing innovative cell-based cancer
immunotherapies. MirImmune's progress in cell therapy using
RXi's RNAi technology during the past 18 months forms a strong
foundation for therapeutic development in the immuno-oncology
space. If RXi exercises its option to acquire MirImmune, the
acquisition would enable RXi to expand its pipeline and enter into
the rapidly expanding field of immuno-oncology using the unique
competitive advantages of sd-rxRNA technology.
The advantages of RXi's RNAi technology, listed below, have been
verified in in vitro testing by MirImmune and their
partners, and offer support that sd-rxRNA technology is uniquely
suited for immune checkpoint
modulation in cellular immuno-oncology therapies, such as CAR
T-cells.
- Multiple immune checkpoints can
be targeted at the same time using a combination of sd-rxRNA
compounds;
- sd-rxRNA have been able to block both extracellular immune
check points as well as intracellular targets that are not accessible to antibody
therapies; and
- Rapid and efficient transfection of T-cells with sd-rxRNA
compounds in cell culture (>98%) is obtained while maintaining
close to 100% cell viability.
In addition to demonstrating the effectiveness of our sd-rxRNA
platform for cell therapy, MirImmune's progress to date also
includes:
- Selection of six lead sd-rxRNA compounds against six different
extracellular and intracellular immune check points;
- Preclinical data that demonstrate silencing of all six targets
in vitro, singly and in combinations;
- Efficient and long-lasting knockdown
of immune checkpoints in vivo;
- Demonstrating the applicability of sd-rxRNA transfection in
cell therapy to solid tumors in addition to blood cancers by:
- Providing preclinical data demonstrating that
mesothelin-targeted CAR T-cells modified with the anti-PD1 targeted
sd-rxRNA significantly slow in vivo tumor growth in a human
ovarian cancer model in mice compared to vehicle control
- Generating promising results in ex vivo testing on
melanoma cells obtained from a patient-donor, using sd-rxRNA
reduction of PD1 in tumor infiltrating lymphocytes (TILs) resulting
in destruction of those melanoma cells; and
- Filing of intellectual property that covers the use of RNAi
compounds for use in cell therapy.
"We are very pleased to have the opportunity to welcome
MirImmune into our Company," said Dr. Geert
Cauwenbergh, President and CEO of RXi Pharmaceuticals. He
added that, "This acquisition would not only allow us to create
value for our shareholders; it more importantly sets the stage for
what could potentially be a transformational change in the way we
treat patients with various malignancies, including solid
tumors. Our ultimate goal, through our own efforts as well as
through partnerships, is the development of more tolerable
treatments resulting in better quality of life and extended
survival of family members we would otherwise lose prematurely.
This approach is a key first step into the field of cell-based
therapies, where sd-rxRNA has numerous advantages over other
gene-modulating technologies."
"We are very excited to join our efforts with RXi in the
development of RNAi for immunotherapy of cancer," said Dr.
Alexey Eliseev, CEO of MirImmune,
Inc. He added that, "We at MirImmune have taken first steps in
improving the properties of cell-based immunotherapies, such as CAR
T‑cells, by RNAi and enabling them to work in the immunosuppressive
environment of solid tumors. CAR T‑cell treatments have shown an
enormous promise in the treatment of hematological malignancies,
but they have been only marginally effective with solid tumors. We
treat therapeutic immune cells with RNAi compounds ex-vivo
to knock down immune checkpoints, such as PD-1, LAG-3 and others.
This treatment boosts the anti-tumor activity of the cells when
they are subsequently administered to the patients. RXi's sd-rxRNA
is arguably the best RNAi technology for such ex vivo
treatment of cells. Our plan is to develop sd-rxRNA as a more safe
and effective alternative to gene editing of the immune cells or
checkpoint blockade with monoclonal antibodies."
About RXi's Proprietary Self-delivering RNAi (sd-rxRNA)
Technology Platform
RNAi is a powerful molecular tool that has the ability to
"silence" or down-regulate the expression of a specific gene that
may be overexpressed in a disease condition. Scientists at
RXi developed a robust RNAi therapeutic platform that includes
self-delivering RNA (sd-rxRNA®) compounds where
drug-like properties are built into the RNAi compound itself. These
proprietary compounds are novel RNAi compounds with enhanced
properties for therapeutic use including: efficient
spontaneous cellular uptake, stability, reduced potential for
immune stimulation, and potent, long-lasting intracellular
activity. All cell types tested (primary, neuronal and
non-adherent) internalize sd-rxRNA compounds uniformly and
efficiently, resulting in potent and long lasting silencing.
sd‑rxRNA compounds have the ability to selectively block the
expression of any target in the genome providing applicability to a
broad spectrum of therapeutic areas.
About MirImmune, Inc.
MirImmune is a privately held biopharmaceutical company focused
on the development of new generation immunotherapies for cancer.
Aiming to achieve long-term survival of cancer patients, we combine
two leading approaches to cancer treatment: immune checkpoint
inhibition and cell-based immunotherapies. Additional information
may be found on the Company's website, www.mirimmunebio.com.
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a
clinical-stage RNAi company developing innovative therapeutics that
address significant unmet medical needs. Building on the
pioneering work of RXi's Scientific Advisory Board Chairman and
Nobel Laureate Dr. Craig Mello, our
discovery and clinical development programs are based on our
proprietary RNAi (sd-rxRNA) platform and Samcyprone™, a topical
immunomodulator. Our clinical development programs include RXI-109,
an sd-rxRNA, for the treatment of dermal and ocular scarring, and
Samcyprone™ for the treatment of such disorders as warts, alopecia
areata, non-malignant skin tumors and cutaneous metastases of
melanoma. RXi's robust pipeline, coupled with an extensive
patent portfolio, provides for multiple product and business
development opportunities across a broad spectrum of therapeutic
areas. 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. Additional information may be found on the Company's
website, www.rxipharma.com.
Forward-Looking Statements
Except for the historical information contained herein, the
matters set forth in this press release, including statements
regarding the Company's plans or other expectations, goals,
objectives, strategies, timelines and legal matters are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including the risks and uncertainties associated with: risks that
the potential acquisition of MirImmune may not proceed; the actual
realization of anticipated benefits of the purchase of MirImmune;
risks related to our ability to control the timing of the purchase
of MirImmune; and other risks detailed from time to time in the
Company's most recent Annual Report on Form 10-K and other
documents subsequently filed with or furnished to the Securities
and Exchange Commission. These forward-looking statements are based
on current information that may change and you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this filing, as actual results may
differ from those contemplated by our forward-looking statements.
All forward-looking statements are qualified in their entirety by
this cautionary statement, and the Company undertakes no obligation
to revise or update any forward-looking statement to reflect events
or circumstances after the date of this press release.
Contact
RXi Pharmaceuticals Corporation
Tamara McGrillen
508-929-3646
tmcgrillen@rxipharma.com
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SOURCE RXi Pharmaceuticals Corporation