SOURCE: Streetwise Reports

Streetwise Reports

June 08, 2017 11:44 ET

The Life Sciences Report Examines RXi Pharmaceuticals Expanded Collaboration with Norwegian Cancer Firm and Gears Up for 2017 Milestones

SAN FRANCISCO, CA--(Marketwired - June 08, 2017) - The potential of RXi Pharmaceuticals Corp.'s (NASDAQ: RXII) sd-rxRNA technology in the development of cancer immunotherapies has resulted in an extension of its research collaboration with Oslo-based PCI Biotech and captured the attention of two analysts.

Included in this article is: RXi Pharmaceuticals Corp.

The extension of the collaboration between RXi Pharmaceuticals Corp. and PCI Biotech AS, initiated in April 2015, was announced on May 22. Commenting on the agreement, Dr. Per Walday, CEO of PCI Biotech, said, "Our collaboration with RXi has been most fruitful and demonstrated a clear positive technological synergy that could realise significant value when applied to the emerging field of immuno-oncology."

"In the immuno-oncology space, where everybody talks about potency and safety of combinations, this continued and more focused collaboration could advance this therapeutic area significantly," Dr. Geert Cauwenbergh, RXi's president and CEO, stated in the company press release.

In a May 22 note, Marcel Wijma of Van Leeuwenhoeck Research commented that the collaboration strengthens RXi's position in the field of cancer research.

"The PCI technology works by inducing triggered endosomal release and may be used to unlock the true therapeutic potential of a wide array of modalities, such as small molecules, ADCs and siRNA. Two programs are currently in clinical development in patient populations with a high unmet medical need; recurrent head and neck cancer (phase II) and bile duct cancer (phase I/II)," Wijma wrote. "We have increased our valuation on RXi Pharmaceuticals to USD 100-125 million or USD 4.50-5.50 per share from USD 75-100 million or USD 3.50-4.50 per share due to the fact that we have increased our LOA and market potential for RXi's lead product RXI-109."

Continue reading this article: RXi Pharmaceuticals Expands Collaboration with Norwegian Cancer Firm; Gears Up for 2017 Milestones

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