RXi Pharma is expected to use the fund for pre-clinical development of RNAi therapeutics using its novel, proprietary therapeutic platform, which includes both novel RNAi compounds and advanced delivery technologies.
RXi Pharma 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.
RXi Pharma said that the additional funding of up to $1m per year over a period of up to 3 years may be requested for Phase II. The award number is R43AI091045.
Anastasia Khvorova, chief scientific officer of RXi Pharma, said: “This grant underwent rigorous peer review by the NIH and recognises 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.”