CytRx subsidiary licenses UMMS intellectual property
RXi Pharmaceuticals Corp., a majority-owned subsidiary of Worcester-based CytRx Corp., has entered into new agreements with the University of Massachusetts Medical School (UMMS) to license RNA interference (RNAi) intellectual property for therapeutic applications.
The licenses are contingent upon RXi's receipt of working capital funding in the coming months, and the agreement includes an exclusive therapeutic license with rights to sublicense for nanotransporters. Nanotransporters have been shown to deliver intact RNAi to a number of tissues in animal models. Financial terms were not disclosed for competitive reasons.
"If RXi is able to offer a new method for treating a broad range of diseases, RNAi therapeutics could become as important as small molecules and antibody drugs," said Steven Kriegsman, president and CEO of CytRx.
To read more on the formation of RXi Pharmaceuticals, and the creation of an advisory board including 2006 Nobel Laureate Dr. Craig Mello, click here.
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